EUR/GBP Technical Analysis - Prices continue to push lower after completing a bearish Rising Wedge chart formation. Sellers are now testing support at 0.8408, the 38.2% Fibonacci retracement, with a break below that exposing the 50% level at 0.8282. Near-term resistance is at 0.8563, the 23.6% Fib.
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
