FxWirePro: EUR/GBP breaks above 20-DMA, good to go long on close above

• EUR/GBP breaks above 20-DMA at 0.8434, momentum indicators are biased higher.
   
• The pair finds strong support by 200-DMA at 0.8320, violation at 200-DMA could see drag upto 0.8078 (50% Fib of 0.6930 to 0.9225 rally).
   
• Close above 20-DMA could see further upside, test of 0.8683 (23.6% Fib then likely).
   
• Support levels - 0.8434 (20-DMA), 0.8410 (5-DMA), 0.8348 (38.2% Fib), 0.8320 (200-DMA)
   
• Resistance levels - 0.85, 0.8571 (Dec 8 high), 0.86, 0.8683 (23.6% Fib)
   

Recommendation: Good to go long on close above 20-DMA at 0.8434, SL: 0.84, TP: 0.85/0.8570/0.86.
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FxWirePro's Hourly EUR Spot Index was at 121.488 (Highly bullish), while Hourly GBP Spot Index was at -65.9875 (Bearish) at 1000 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.