- The euro eased, reversing some of its previous session gains against the British pound following better-than-expected UK house prices
- Figures from mortgage lender Halifax showed British house prices rose at the fastest annual rate since February 2018 last month, increasing by 4.1 percent after a 4.0 percent rise in December
- EUR/GBP is trading 0.2 percent down at 0.8475, having hit a high 0.8537 on Tuesday,
its highest since January 20. - Technical indicators are bearish: RSI weak at 49.25 and Stochs are on the verge of bearish crossover.
- Immediate resistance is located at 0.8501, a break above could take it near 0.8517 (55-EMA).
- On the downside, support is seen at 0.8467 (7-EMA), a break below could drag it till 0.8454 (10-DMA).
Recommendation: Good to sell on rallies around 0.8490, with stop loss of 0.8501 and target price of 0.8467.
