U.S. Markets closed

Forex: EUR/GBP Technical Analysis – Euro Slips Below Key Support

Ilya Spivak


EUR/GBP Technical Analysis – Prices broke below support at 0.8583, a level marked by the intersection of the 50% Fibonacci retracement and a familiar horizontal pivot in play since February. Sellers now aim to challenge the 61.8% Fib at 0.8539, a barrier reinforced by a rising trend line set from late April (0.8525). Alternatively, a daily close back above 0.8583 eyes the 38.2% retracement at 0.8626.


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


dailyclassics_eur-chf_body_Picture_8.png, Forex: EUR/GBP Technical Analysis – Euro Slips Below Key Support

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.