FxWirePro: EUR/GBP on track to test 200-DMA at 0.8296, good to sell rallies

• EUR/GBP has broken major trendline support, bias lower.
   
• Momentum studies are bearish, scope for test of 200-DMA at 0.8296.
   
• Violation at 200-DMA could drag the pair to 0.82 (61.8% Fib).
   
• Support levels - 0.8362 (session low), 0.8333 (Sept 6 low), 0.8296 (200-DMA)
   
• Resistance levels - 0.8394 (50% Fib), 0.84, 0.8435 (5-DMA), 0.8460 (trendline)
   

Recommendation: Good to sell rallies around 0.84, SL: 0.8460
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FxWirePro's Hourly EUR Spot Index was at -37.3019 (Neutral), while Hourly GBP Spot Index was at -15.4691 (Neutral) at 0700 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex