EUR/GBP Testing/Breaking Support

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EUR/GBP Testing/Breaking Support

By James Chen on May 19, 2009 | More Posts By James Chen | Author's Website

Bearish price action in the last several days on EUR/GBP, a daily chart of which is shown, has brought the pair down to test and tentatively break key 0.8800 support as of Tuesday (5/19/2009) morning. Continued bearishness on this move should quickly target further support in the 0.8660 price region. Major upside resistance resides in the important 0.9000 region.

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