EUR/GBP Technical Analysis: Euro Holds at Key Support

DailyFX

EUR/GBP Technical Analysis – Prices broke below a rising trend line set from late June to find support at 0.8583, a level marked by the intersection of the 50% Fibonacci retracement and a familiar horizontal pivot in play since February. A further push beneath that eyes the 61.8% Fib at 0.8539. Near-term resistance is at 0.8626, the 38.2% retracement, followed by the underside of the broken trend line (now at 0.8659).

Confirm your chart-based trade setups with the Technical Analyzer.

View photo

.
dailyclassics_eur-chf_body_Picture_8.png, EUR/GBP Technical Analysis: Euro Holds at Key Support

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Rates

View Comments (0)