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
The material has been provided by InstaForex Company – www.instaforex.com
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