FxWirePro: EUR/GBP finds major support at 0.8310, weakness only on break below

• EUR/GBP is capped below 20-DMA at 0.8443, momentum studies are biased lower.
   
• The pair is holding above 200-DMA at 0.8311, violation at 200-DMA could see drag upto 0.8078 (50% Fib).
   
• On the flipside breakout above 20-DMA could see further upside, test of 0.8683 (23.6% Fib then likely).
   
• Support levels - 0.8348 (38.2% Fib), 0.8333 (Sept 6 low), 0.8311 (200-DMA)
   
• Resistance levels - 0.8379 (5-DMA), 0.84, 0.8443 (20-DMA), 0.85

Recommendation: We prefer to wait for confirmation on technicals to initiate trade.
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FxWirePro's Hourly EUR Spot Index was at -35.7204 (Neutral), while Hourly GBP Spot Index was at 26.1285 (Neutral) at 0915 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.