EUR/GBP Technical Pattern Analysis - Technical Strategy: Flat

Resistance	Support
0.7899	0.7809
0.7954	0.7751
0.8033	0.7662

The Euro may rise against the British Pound following the appearance of a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci expansionat 0.7899 exposes support-turned-resistance at 0.7954. Alternatively, a turn below the 23.6% level at 0.7809 opens the door for a challenge of the 0.7751-65 area marked by the July 23 2012 and September 30 2014 lows.