FxWirePro: EUR/GBP edges lower from strong trendline resistance at 0.7380, good to sell rallies
EUR/GBP has bounced back from strong trendline resistance at 0.7380 in Monday's trade. 5, 10 & 20 DMAs trend north, Stochs on 4-hourly charts has rolled-over from overbought zone with a bearish crossover Demand for Euro …
EUR/GBP has bounced back from strong trendline resistance at 0.7380 in Monday's trade.
5, 10 & 20 DMAs trend north, Stochs on 4-hourly charts has rolled-over from overbought zone with a bearish crossover
Demand for Euro hit as higher Asian equities and modest recovery in the commodities space keep the market sentiment lifted
No major economic drivers ahead until the NY session, markets will track the sentiment across global equities for cues
5-DMA at 0.7358 is strong support on the downside, while immediate resistance is seen at 0.7380 (Session high Dec 28) and further ahead at 0.7385 (rising trendline)
