EUR/GBP Technical Analysis - Prices broke support at 0.8642, the 23.6% Fibonacci expansion, completing a bearish Rising Wedge chart formation and exposing the 38.2% level at 0.8535. Alternatively, a reversal back above 0.8642 and the Wedge bottom (now at 0.8659) aims for the 14.6% retracement at 0.8708.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE