The EUR/GBP is testing/breaking a very critical support level which also represents a 50% retracement from the 1999 lows to 2008 highs. That level is at .7750 (approximately).

Here is the chart:

This is one of the most heavily traded currency pairs in the FX market, so this pair could heavily influence the GBP and EUR on the crosses.

 

Blake Morrow

Chief Currency Strategist, Wizetrade

 

Disclaimer: I am looking to establish a short in the EUR/GBP in the next 72 hours.