Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7906
Kijun-Sen level: 0.7908
Ichimoku cloud top: 0.7874
Ichimoku cloud bottom: 0.7904
EUR/GBP is facing resistance around 0.7955 (Dec 11th high) and any trend reversal can happen only above that level.
The pair’s minor support around 0.7870 and any break below would target 0.7840/0.7800 in short term. The break of 0.7955 will take the pair to 0.7975/0.8035.
Recommendation: Sell EUR/GBP around 0.7919, SL 0.7960, Target 0.7805.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7906
Kijun-Sen level: 0.7908
Ichimoku cloud top: 0.7874
Ichimoku cloud bottom: 0.7904
EUR/GBP is facing resistance around 0.7955 (Dec 11th high) and any trend reversal can happen only above that level.
The pair’s minor support around 0.7870 and any break below would target 0.7840/0.7800 in short term. The break of 0.7955 will take the pair to 0.7975/0.8035.
Recommendation: Sell EUR/GBP around 0.7919, SL 0.7960, Target 0.7805.