EURGBP tests a key cluster of resistance


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Old swing highs, trend line and 100 day MA at 0.8875-783. Sellers should lean here


The EURGBP is up testing a key cluster of resitance defined by old swing highs, a topside trend line and the 100 day MA in the 0.8875 to 0.88783 area.  The area should give traders cause for pause (look for sellling leaners/profit takers) with stops on a break and momentum above the key area. 
Looking at the pairs, the GBPUSD has broken below a trend line at 1.28365, but the EURUSD is holding support at the 1.1376 level. The combination is pushing the EURGBP higher.  Does those «trends» continue or does the mix, change (i.e. the EURUSD might break and run below the support level)   The EURGBP price action right here is key. 
ForexLive
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