Talking Points: EUR/GBP Technical Strategy: FlatSupport: 0.7917, 0.7887, 0.7849Resistance: 0.7947, 0.7985, 0.8030 The Euro has launched a brisk recovery against the British Pound, rising to the highest level in a month. Near-term resistance is at 0.7947, the 61.8% Fibonacci retracement, with a break above that on a daily closing basis exposing the 76.4% level at 0.7985. Alternatively, a turn back below the 50% Fib at 0.7917 opens the door for a challenge of the ...
EUR/GBP Technical Strategy: FlatSupport: 0.7973, 0.7954, 0.7935Resistance:0.8007, 0.8031, 0.8050 The Euro began edging higher against the British Pound as expected after prices produced in a bullish Morning Star candlestick pattern. A pullback now sees prices testing support at 0.7973, the intersection of the 38.2% Fibonacci retracement and a rising trend line set from July’s low. Breaching this barrier on a daily closing basis exposes the 50% level at 0.7954. Alternatively, ...
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