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Euro / British Pound
Short

EURGBP Tested Major Resistance, Potential For A Drop!

By ICmarkets
Broker
EURGBP tested its major resistance at 0.8787 (61.8% Fibonacci retracement, 61.8% Fibonacci retracement, 100% Fibonacci extension, descending resistance line) where price could fall to its support at 0.8699 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.8724 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) tested its resistance at 98% where a corresponding drop could occur.
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ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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