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    EUR/GBP – Rejected at 38.2% Fibo in Asia

    EUR/GBP cross failed to take out 0.7683 (38.2% of 0.6981-0.8117) levels in Asia and fell to a session low of 0.7693 levels before trimming losses to trade around 0.7663 at the time of writing.Awaits poll resultsThe cross finds itself at the crossroads since Brexit be equally damaging to the Eurozone as well. However, this side of the story has been largely ignored by the markets. Nevertheless, Brexit could also weaken Euro; hence traders may find it difficult to anticipate the moves in the EUR/GBP cross.Moreover, markets believe Sterling could be a major loser in case of Brexit, which means the cross could move higher. On the contrary, Bremain could see Cable rally, thus keeping the cross under pressure.EUR/GBP Technical LevelsThe immediate resistance is seen at 0.7683 (38.2% of 0.6981-0.8117), above which prices could target 0.7709 (5-DMA) and 0.7750 (June 7 low). On the other hand, a breakdown of support at 0.7639 (daily low) would open doors for a drop to 0.76 handle, which if breached would expose support at 0.7568 (200-DMA).


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