The 61.8% of the move up from the October 26 low is swing area for the EURGBP
The EURGBP has tumbled lower on the back of overall EUR weakness. The run to the downside has taken the price to a swing area between 0.84719 and 0.84755. Also near that level comes the 61.8% of the move up from the October 26th low at 0.84758.
The fall is finding some support buying against the area. If support does hold (and buyers are leaning with likely stops below), the 0.8491 level will be eyed as a topside target to get above if the buyers are to get some satisfaction. The 50% midpoint at 0.84984 is another key hurdle to get above.
Absent that, the sellers remain in control. A move below 0.84719 would look toward the 0.8460 area.
