The couple EUR/GBP one comes developing from February 18 inside an Upward(Rising) Channel which limits have been forceful validated in several occasions, since it is estimated in the attached graph.
But up to where the Euro will come in this Rising Trend that expires already five weeks?
Looking for points of support to give response to this question, in a weekly graph plan Fibonaci's setbacks (from 0.81413 to 0.89407) accompanied of the Estocástico and I found that in the last four weeks, the levels of 61.8 %, 50.0 % and 38.2 % (two times) have been levels that used as Support to the Weekly Candles (following graph).
In addition, in the week that I finish, the Euro cross to the rise the level of 23.6 %. Therefore, this level of 23.6 %, which the week before last I mean as a Resistance, turns now into the new Support of the EUR/GBP.
On the other hand, the Stochastic is in zone of overbought, for what there does not discard an adjustment that can serve to prove the Support of 23.6 % of Fibonaci.
In case the Euro manages to respect his Support in the zone of 23.6 % of Fibonaci (0.8750), his following Resistance corresponds to 0.8940 (0 % of Fibonaci).
Now then, let's not forget that the Fundamental Analysis plays a crucial role in the behavior of any Currency, and in this case, the economic news relevant that can affect the behavior of this Major's couple is the advertisement of the quarterly behavior of the Gross Domestic Product of England (GDP), which will be announced on March 29, information that undoubtedly will have the last word as for what we can wait of this couple of Currencies.
