EUR/GBP Technical Analysis: Trying to Secure Break of 0.73 (24/08/15)

  • Support:0.7206, 0.7141, 0.7040
  • Resistance: 0.7271, 0.7352, 0.7482

The Euro is probing above the 0.73 figure against the British Pound as prices work on a fourth consecutive day on the upside. Securing a daily close above the 61.8% Fibonacci retracement at 0.7271 would open the door for a test of the 76.4% level at 0.7352. This barrier coincides with a congestion area that served to cap gains on a similarly swift recovery in early June and could prove to be a formidable hurdle for buyers.