FxWirePro: EUR/GBP edges lower from 11-month highs at 0.9058, bias bullish, stay long

• EUR/GBP is consolidating break above strong trendline resistance at 0.9030.
   
• The pair hit fresh 11-month highs at 0.9058 before paring some gains to currently trade at 0.9038.
   
• The single currency ticked higher after upbeat German Ifo Business climate data.
   
• Headline German business climate index rose to 103.8 in August beating consensus estimates for an uptick to 101.9.
   
• Price action is above daily cloud and upward sloping major moving averages support upside bias.
   
• The formation of a "Golden Cross" formation on the daily charts further raises scope for upside.
   
• The pair is holding above 21-EMA support and only break below could see minor weakness.
   
• Breakout at 0.9030 (Aug 9th high and strong trendline resistance) is liekly to take the pair higher to 0.91 levels.

Support levels - 0.8989 (5-DMA), 0.8949 (21-EMA), 0.8887 (50-DMA)

Resistance levels - 0.9030 (Aug 9th high), 0.9040 (Wedge top), 0.91 (trendline) 

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 94.9551 (Bullish), while Hourly GBP Spot Index was at -9.85867 (Neutral) at 1100 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.