EUR/GBP Technical Analysis – Prices edged past support at a rising trend line set from late April to challenge the 61.8% Fibonacci retracement at 0.8474. A break beneath that targets the 76.4% level at 0.8444. The trend line, now at 0.8490, has been recast as near-term resistance. A reversal above that and the 50% Fib at 0.8497 eyes the 38.2% retracement at 0.8521.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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