EUR/GBP Technical Analysis – Prices appear to be carving out a Triangle chart formation, which may be broadly indicative of bullish continuation (although confirmation is required on a break above the setup’s upper boundary). Near-term resistance is at 0.8503, the 14.6% Fibonacci expansion, with a break above that targeting the 23.6% level at 0.8569. Triangle support is now at 0.8396.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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