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EUR/GBP Technical Analysis: Support Seen Below 0.86

EUR/GBP Technical Analysis: Support Seen Below 0.86

Ilya Spivak, Head Strategist, APAC

EUR/GBP Technical Analysis – Prices are recoiling from resistance at 0.8689, the 38.2% Fibonacci retracement level. Near-term support is at 0.8582, the 23.6% level, with a break below that targeting a rising trend line set from late April (now at 0.8506). Alternatively, a reversal above resistance aims for the 50% mark at 0.8775.

dailyclassics_eur-chf_body_Picture_12.png, EUR/GBP Technical Analysis: Support Seen Below 0.86

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.