Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7939
Kijun-Sen level: 0.7922
Ichimoku cloud top: 0.7890
Ichimoku cloud bottom: 0.7904
EUR/GBP made a high of 0.7911 and is slightly retreated from that level. Overall trend is weak as long as 0.8050 holds.
The EUR/GBP short term resistance is around 0.7976 (Dec 1st high) and any break of will take the pair to 0.8038.
The pair’s minor support around 0.7870 and any break below would target 0.7840/0.7800 in short term. The medium term support is around 0.7760 and any break of will target 0.7648/0.7582.
Recommendation: Sell EUR/GBP around 0.7935, SL 0.8050, Target 0.7582.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7939
Kijun-Sen level: 0.7922
Ichimoku cloud top: 0.7890
Ichimoku cloud bottom: 0.7904
EUR/GBP made a high of 0.7911 and is slightly retreated from that level. Overall trend is weak as long as 0.8050 holds.
The EUR/GBP short term resistance is around 0.7976 (Dec 1st high) and any break of will take the pair to 0.8038.
The pair’s minor support around 0.7870 and any break below would target 0.7840/0.7800 in short term. The medium term support is around 0.7760 and any break of will target 0.7648/0.7582.
Recommendation: Sell EUR/GBP around 0.7935, SL 0.8050, Target 0.7582.