- EUR/GBP trades with a bearish bias, momentum studies are biased lower.
- Pair on track to test 200-DMA at 0.8305, violation at 200-DMA could drag the pair to 0.8078 (50% Fib).
- Support levels - 0.8348 (38.2% Fib), 0.8333 (Sept 6 low), 0.8305 (200-DMA)
- Resistance levels - 0.8381 (5-DMA), 0.84, 0.8458 (20-DMA), 0.85
- Our previous call (http://www.econotimes.com/FxWirePro-EUR-GBP-on-track-to-test-200-DMA-at-08296-good-to-sell-rallies-444663) is progressing.
Recommendation: Stay short.
FxWirePro's Hourly EUR Spot Index was at -97.457 (Bearish), while Hourly GBP Spot Index was at 114.35 (Highly bullish) at 0725 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


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