GBP crosses/Technical Analysis

EUR/GBP Technicals: Potential for .8215

The daily chart shows a mature downmove from .8500 to .7750 which is currently retracing and looks to have potential to test the 61.8% retracement at .8215, which was formerly an important support level. Selling a failure at this level in line with the dominant downtrend looks like it could be a good risk-reward trade, in the first instant at least.

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