U.S. Markets open in 2 hrs 7 mins

EUR/GBP Technical Analysis: Euro Tests March Top

Ilya Spivak

EUR/GBP Technical Analysis – Prices rebounded as expected after putting in a bullish Piercing Line candlestick pattern. The pair is now testing back below resistance-turned-support at 0.8730, the 61.8% Fibonacci expansion to challenge the 50% level at 0.8702, with a break below that eyeing the 38.2% Fib at 0.8673. Alternatively, a reversal back above 0.8730 eyes the 76.4% expansion at 0.8766.

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

dailyclassics_eur-chf_body_Picture_8.png, EUR/GBP Technical Analysis: Euro Tests March Top

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.