Quick look: EUR/GBP Stuck between rising trend line and Key Fibo level

Daily Chart

eurgbp.png

The cross is stuck between the rising trend line resistance and Fibo support

Euro’s repeated failure to break below 0.7704 (23.6% Fibo) despite bearish break from rising trend line has finally shifted risk in favor of a retest of the trendline resistance at 0.7785-0.7790

However, for me this is a no trading zone. If i have to trade this ahead of the ECB, I would want to see a clear (today’s) daily closing above 0.7790 or below 0.7704.

still, going purely by the chart as of now the odds of a bullish break appear high

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