FxWirePro: EUR/GBP eases following UK's robust house prices, finds support at 7-EMA
The euro eased, reversing some of its previous session gains against the British pound following better-than-expected UK house prices Figures from mortgage lender Halifax showed British house prices rose at the fastest a…
The euro eased, reversing some of its previous session gains against the British pound following better-than-expected UK house prices
Figures from mortgage lender Halifax showed British house prices rose at the fastest annual rate since February 2018 last month, increasing by 4.1 percent after a 4.0 percent rise in December
EUR/GBP is trading 0.2 percent down at 0.8475, having hit a high 0.8537 on Tuesday,
its highest since January 20.
Technical indicators are bearish: RSI weak at 49.25 and Stochs are on the verge of bearish crossover.
Immediate resistance is located at 0.8501, a break above could take it near 0.8517 (55-EMA).
On the downside, support is seen at 0.8467 (7-EMA), a break below could drag it till 0.8454 (10-DMA).
Recommendation: Good to sell on rallies around 0.8490, with stop loss of 0.8501 and target price of 0.8467.
