As signs of solid economic growth continue to trickle out of the Eurozone, the euro has begun to rebound from multi-year lows. Clive Lambert from FuturesTechs has been watching the euro’s performance closely in EURGBP. On Thursday levels hit 0.7394, which is the 38.2% Fibonacci retracement from the sell-off between December and March. EURGBP has consolidated within a narrow trading band over the last few weeks. With channel support at 0.7325, a break of this level could signal further weakness according to Clive. He is looking to sell at GBP 0.7320 with a 50 pip stop. His three targets for the trade are: GBP 0.7250, GBP 0.7215, and GBP 0.7100.

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