EUR/GBP Technical Analysis – Prices broke support at 0.8545, the 23.6% Fibonacci expansion, exposing the 38.2% level at 0.8481. A further push below that aims for the 50% Fib at 0.8434. Alternatively, a move back above 0.8540 aims for rising trend line support-turned-resistance at 0.8562.
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