EUR/GBP Technical Analysis – Prices are now testing support at 0.8408, the 38.2% Fibonacci retracement. A bounce sees the first layer of major resistance at 0.8563, the 23.6% level. Alternatively, a push downward through support exposes the 50% Fib at 0.8282.
Daily Chart – Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya’s e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed