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 0.8570.
Daily Chart – Created Using FXCM Marketscope 2.0
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— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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