Forex: EUR/GBP retreats from highs, around 0.8350
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - The pair is posting gains for the second consecutive day, navigating the upper end of today's range in the 0.8350/55 region, some pips lower after posting fresh highs above 0.8360
I.Spivak, Currency Strategist at DailyFX, argues, "Prices pulled back to retest the 76.4% Fibonacci expansion at 0.8275. A break back below that aims for rising channel resistance-turned-support at 0.8249, followed by the 0.8215-20 area. Interim resistance is at 0.8325, the January 14 high, followed by 100% level at 0.8372".
The pair is now up 0.65% at 0.8356 with the next resistance at 0.8417 (50% of 0.9080-0.7750) ahead of 0.8468 (high Feb.29) and then 0.8490 (high Feb.28).
On the other hand, a breach of 0.8266 (low Jan.15) would expose 0.8233 (high Dec.28) and finally 0.8229 (MA10d).
I.Spivak, Currency Strategist at DailyFX, argues, "Prices pulled back to retest the 76.4% Fibonacci expansion at 0.8275. A break back below that aims for rising channel resistance-turned-support at 0.8249, followed by the 0.8215-20 area. Interim resistance is at 0.8325, the January 14 high, followed by 100% level at 0.8372".
The pair is now up 0.65% at 0.8356 with the next resistance at 0.8417 (50% of 0.9080-0.7750) ahead of 0.8468 (high Feb.29) and then 0.8490 (high Feb.28).
On the other hand, a breach of 0.8266 (low Jan.15) would expose 0.8233 (high Dec.28) and finally 0.8229 (MA10d).
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