Forex: EUR/GBP Technical Analysis – Bears Push Below 0.85 Mark

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Talking Points

  • We remain shortafter a Dark Cloud Cover pattern marked the return of selling pressure, as expected
  • Sellers are now testing support at 0.8487 (61.8% Fib), with a break below exposing 0.8448 (76.4% Fib)
  • A reversal back above 0.8518 (50% Fib) targets trend line support-turned-resistance at 0.8538

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dailyclassics_eur-chf_body_Picture_8.png, Forex: EUR/GBP Technical Analysis – Bears Push Below 0.85 Mark

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

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