EUR/GBP Technical Analysis – Prices broke support at a rising trend line set from late June to challenge 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% level at 0.8539. Near-term resistance is at 0.8626, the 38.2% Fib, followed by the underside of the broken trend line (now at 0.8643).
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE