Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7920
Kijun-Sen level: 0.7970
Ichimoku cloud top: 0.7981
Ichimoku cloud bottom: 0.7919
EUR/GBP is retreating after making temporary high around 0.8037. The EUR/GBP short term resistance is around 0.7970 and any trend reversal only above that level. Any break of 0.7970 will target 0.8037.
The pair’s minor support is around 0.7900 and any break below will target 0.7870/0.7780.
EUR/GBP Minor resistance around 0.7950. Major trend reversal level 0.8045.
Recommendation: Sell EUR/GBP around 0.7930-35, SL 0.7971, Target 0.7870/0.7780.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7920
Kijun-Sen level: 0.7970
Ichimoku cloud top: 0.7981
Ichimoku cloud bottom: 0.7919
EUR/GBP is retreating after making temporary high around 0.8037. The EUR/GBP short term resistance is around 0.7970 and any trend reversal only above that level. Any break of 0.7970 will target 0.8037.
The pair’s minor support is around 0.7900 and any break below will target 0.7870/0.7780.
EUR/GBP Minor resistance around 0.7950. Major trend reversal level 0.8045.
Recommendation: Sell EUR/GBP around 0.7930-35, SL 0.7971, Target 0.7870/0.7780.