Tanalys

EUR/GBP Technical Analysis: Buyers Aim Higher Toward 0.87

EUR/GBP Technical Analysis – Prices took out resistance at 0.8582, the 23.6% Fibonacci expansion, exposing the 38.2% level at 0.8688. The 0.8582 mark has been recast as near-term support, with a move back beneath that eyeing a rising trend line set from late April, now at 0.8495.

Daily Chart – Created Using FXCM Marketscope 2.0

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

Exit mobile version