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EUR/GBP – Keep an eye on the daily close

FX:EURGBP   Euro Fx/British Pound
Despite Friday’s inverted bearish hammer at the trend line support, the subsequent failure to take out 0.8556 (38.2% of the rally from 2007 low to 2008 high) on Monday and earlier today if results in a daily close below the trend line support would open doors for a sell-off to sub-0.84 levels.

On the higher side, only a daily close above 0.8556 would signal a temporary bottom has been made.
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