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EUR/GBP Technical Analysis: Sellers Aim at Range Floor

EUR/GBP Technical Analysis: Sellers Aim at Range Floor

Ilya Spivak, Head Strategist, APAC

EUR/GBP Technical Analysis – Prices are testing below rising trend line support set from early May (0.8489), with a break downward exposing the recent range bottom at 0.8409. Near-term resistance is at 0.8575. A reversal above that eyes swing highs in the 0.8598-0.8636 area.

dailyclassics_eur-chf_body_Picture_8.png, EUR/GBP Technical Analysis: Sellers Aim at Range Floor

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

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