EUR/GBP Technical Analysis: Key Support Line Threatened
EUR/GBP Technical Analysis – Prices are testing below support a 0.8673, the 38.2% Fibonacci expansion, to eye the 23.6% level at 0.8638. This barrier is reinforced by a rising trend line set from late June, with a break lower exposing horizontal resistance-turned-support at 0.8583. Near-term resistance is at 0.8702, the 50% expansion.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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