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EUR/GBP- completes 61.8% drop from Cypher Leg D

FX_IDC:EURGBP   EURO / POUND STERLING
EUR/GBP completed Cypher Leg D last week after witnessing a bullish break from symmetrical triangle formation as pointed out there.

The cross dropped well below 61.8% of Leg CD seen at 0.7729 levels and now flirts with falling trend line support. A break lower would expose 0.7657 (78.6% of Leg CD). On the higher side, 0.7729 remains a strong resistance which needs to be breached if bulls desire to have more say in determining exchange.

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