Forex: EUR/GBP regains 0.8400

FXstreet.com (Barcelona) - The pair has managed to recover ground after dipping as low as the 0.8380 region on Wednesday, trading back to the key resistance at 0.8400 as of writing.

“Prices are pulling back from resistance at 0.8411… Initial support is at 0.8348, the 100% level, with a break below targeting 76.4% Fib at 0.8286. Alternatively, a reversal above 0.8411 eyes the 138.2% expansion at 0.8449”, explained Currency Strategist I.Spivak at DailyFX.

At the moment, the pair is losing 0.07% at 0.8405 with the next support at 0.8355 (low Jan.18) ahead of 0.8337 (MA10d) and then 0.8300 (low Jan.17).
On the upside, a break above 0.8440 (high Jan.22) would expose 0.8453 (Upper Bollinger) and 0.8468 (high Feb.29 2012).

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