EUR/GBP: think of selling
We see a bearish pattern on the daily EUR/GBP chart. Moreover, last week’s highs in the 0.9700 area were close to the resistance line coming down from 2009 highs. As a result, it’s reasonable to think about selling the single currency. Potential entry levels lie at 0.8650 on the upside (sell limit) or at 0.8575 (sell stop). Target lies at 0.8515/00. There’s a support at 0.8590.
Chart. Daily EUR/USD