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Forex: EUR/GBP Technical Analysis – Sellers Aim Below 0.8500

Ilya Spivak

EUR/GBP Technical Analysis – Prices are testing below support at a rising trend line set from late April (0.8529), a barrier reinforced by the 61.8% Fibonacci retracement at 0.8539. A break lower exposes the 76.4% Fib at 0.8485.Near-term resistance is at 0.8583, a level marked by the intersection of the 50%retracement and a familiar horizontal pivot in play since February.

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dailyclassics_eur-chf_body_Picture_8.png, Forex: EUR/GBP Technical Analysis – Sellers Aim Below 0.8500

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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