EUR/GBP Technical Analysis - Prices are testing below support at 0.8687, the 38.2% Fibonacci expansion, to challenge the bottom of a Rising Wedge chart formation at 0.8647. A break below that exposes the 23.6% level at 0.8595. Near-term resistance is at 0.8761, the 50% level.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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