EUR/GBP Technical Analysis: Resistance Seen Sub-0.87 Mark
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 0.8492.
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.
