FxWirePro: EUR/GBP capped below major trendline resistance at 0.7625, stay short

• Disappointing German ZEW economic sentiment and the latest 'Brexit' polls pushed EUR/GBP to its lowest level since early Feb to test 0.7600 levels.
   
• Upbeat German Ifo index data release earlier today saw some rebound in the pair, German Ifo Business Climate index rose to 107.7, its highest level since Dec 2015.
   
• Bounce in the pair was quickly sold off, EUR/GBP dropped, but finds support at 0.7600 handle and is curently holding above.
   
• Our call (http://www.econotimes.com/FxWirePro-EUR-GBP-downside-stalls-at-382-Fib-break-below-needed-for-further-downside-210124) has hit TP 1&2.
   
• EUR/GBP has broken below 38.2% Fib at 0.7683 and major trendline support at 0.7640.
   
• The pair trades with a major downside bias on the weekly charts, break below 0.76 will see test of 50% Fib at 0.7550 levels.
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Recommendation: Book partial profits, lower trailing stops to 0.7640, target 0.7550