EUR fell below the handle versus GBP
5/10/2017 10:47:33 AM
During Forex market, the EUR/GBP unsuccessful to develop initial tepid recovery move and has now fell to fresh 4 week low, below the 0.8408 handle.
Instant support is fixed near 0.8373 area, below which a fresh leg of decline is probable to drag the cross below 0.8350 intermediate support towards testing yearly lows support near 0.8312 area.
On the upside, 0.8408 level appears to have arisen as immediate hurdle, which if cleared might cause some short-covering move towards 0.8457 horizontal persistence on the way the key 0.8504 psychological mark.
FOREX market analysis by FxErvin.