EURGBP 1H FRAME

٢٣ نوفمبر ٢٠١٦

EUR/GBP seems to have entered a downtrend after breaking the support at 0.8566. The pair is trading below 200 Moving Average and have already rejected 50 Moving Average that is currently acting as a resistance. While the trend is bearish, consider selling EUR/GBP at the current rate (0.8532), targeting either 261.8% (0.8340) or 361.8% Fibs (0.8200). Suggested stop loss is 0.8690. Support: 0.8480, 0.8340, 0.8200 Resistance: 0.8566