DAILY forex trends
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EUR/GBP
The primary trend of EUR/GBP is bearish on charts and price is taking resistance of the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 0.7055 and support at the level of 0.6975. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
STRATEGY: EUR/GBP is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.