EUR/GBP – Falling trend line hurdle could be put to test
- Cross could extend gains to falling trend line resistance seen on hourly chart at 0.7912 levels, if the UK data disappoints expectations.
- Unless there is a bullish break, the odds of the pair forming head and shoulder formation on the daily chart remain intact.
- On the other hand, a strong UK data could push the pair back to rising trend line support on hourly chart and reinforce expectation of head and shoulder formation on the daily chart.
