EUR/GBP Technical Analysis - Prices broke resistance at 0.8500, the 23.6% Fibonacci retracement, exposing the 38.2% level at 0.8556. A further push above that eyes the 50% mark at 0.8601. The 0.8500 figure has been recast as near-term support. A reversal beneath that targets the April 1 low at 0.8410.
Daily Chart - Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE