EURGBP Close to medium-term sell trigger

Monthly: Since posting large nett losses in September 2017 (-395 pips) the cross has moved sideways. Price action on March (2018) has seen a bearish Outside Month posted and offers a mild downward bias. Notable support is located at 0.8303

Weekly:  The 161.8% extension level from the 0.9299-0.8682 move is located at 0.8303, just below the aforementioned support

Daily: After posting a Demark 13 count (exhaustion) the cross has posted three consecutive daily performances and opened stronger this morning. With the intraday chart close to a reversal count, and bespoke resistance seen at 0.8810, we look for the upside to be limited. The long-term bias is now mixed but the medium-term bias is bearish on rallies. Expect trading to be mixed and volatile.