Forex Flash: EUR/GBP targets supports in short-term – RBS

FXstreet.com (Barcelona) - According to William Moore, Technical Market Strategist at RBS, a short-term picture with the EURGBP leaves us with very conviction in the interim. We think there will be a lot of resistance around 0.8080, especially given there are two previous highs there from the 5 and 9 of October and the 76.4% retracement from the previous rally sits there too."

"As such, we would be inclined to continue to fade significant rallies back to the 0.8116 level and be looking to enter shorts if the market struggles at 0.8080/85. Otherwise we target supports of 0.8030 and 0.7951." Moore adds.