Trade Idea: EUR/GBP -
Bought at 0.8540, Target: 0.8640, Stop: 0.8500
Despite yesterday's fall to 0.8510, as the single currency has rebounded after holding above indicated support at 0.8505 (last week's low), retaining our view that further consolidation above this level would be seen and bullishness remains for another rebound, above resistance at 0.8577 (yesterday's high) would bring test of indicated resistance at 0.8620-23, however, break there is needed to confirm low is in place and bring at least a strong retracement of the decline from 0.8770 (wave i top) to 0.8650, then 0.8670 but price should falter below pivotal resistance at 0.8730.