EUR/GBP Technical Analysis – Prices advanced as expected after completing a bullish Piercing Line candlestick pattern above support at 0.8475, a horizontal shelf reinforced by rising trend lines set from late April. Buyers are now testing resistance in the 0.8584-92 area, marked by the 61.8% Fibonacci expansion and a former support level dating back to mid-February, with a break above that targeting the 76.4% level at 0.8621.Near-term support is at 0.8568, the 50% Fib.
Daily Chart - Created Using FXCM Marketscope 2.0
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