EUR/GBP Technical Analysis: Rally Stalls Below 0.88
EUR/GBP Technical Analysis – Prices rebounded as expected after putting in a bullish Piercing Line candlestick pattern. The pair is now testing back below resistance-turned-support at 0.8730, the 61.8% Fibonacci expansion, with a break lower exposing the 50% level at 0.8702. Near-term resistance is at 0.8766, the 76.4% expansion.
Confirm your chart-based trade setups with the Technical Analyzer.
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