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FX.co ★ Technical analysis of EUR/GBP for November 22, 2016

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Forex Analysis

2016-11-22T12:43:43
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Technical analysis of EUR/GBP for November 22, 2016

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

Technical analysis of EUR/GBP for November 22, 2016

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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