EURGBP – Still offers a downward bias but wary of spikes

FX:EURGBP   Euro / British Pound

EURGBP - Intraday - We look to Sell at 0.8954 (stop at 0.8979)

Broken out of the Head and Shoulders formation to the downside. The formation has a measured move target of 0.8860. Economic figures could adversley affect the short term technical picture. Reverse trend line resistance comes in at 0.8954. Bespoke resistance is located at 0.8955. Preferred trade is to sell into rallies.

Our profit targets will be 0.8860 and 0.8855

Resistance: 0.8941 / 0.8954 / 0.9000
Support: 0.8868 / 0.8856 / 0.8801
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