FxWirePro: EUR/GBP edges lower from strong trendline resistance at 0.7850, further bullishness only on break above

Our EUR/GBP call ( http://www.econotimes.com/FxWirePro-EUR-GBP-breaks-trendline-resistance-hits-new-yearly-highs-at-07787-good-to-buy-dips-157649) has hit targets.

• Price action in EUR/GBP hit highs at 0.7850 before edging lower to currently trade at 0.78 levels.
   
• The pair has strong trendline resistance currently at 0.7860, and further bullishness can be seen on breaks above, tests of 0.79 and then 0.8040 levels likely.
   
• Market focus remains on UK manufacturing production data due later today for clues on further direction.
   
• Immediate resistance for the pair lies at 0.7850 (Feb 9th highs) and then at 0.7860 (rising trendline).
   
• Support on the downside lies at 0.7745 (5-DMA) and further below at 0.7730 (Feb 9th lows)