The pound's decline in June 2024 led the EUR/GBP rate to end above a 23.6 percent 50-day Fibonacci. Fibonacci - based off the famous infinite math sequence from 13-century Italy - is a metric often used in FX trading to find key levels of support and resistance. Essentially, the sequence potentially reveals thresholds on which traders can buy or sell assets and are typically set as profit targets. When these retracements are met, traders will act.
Euro (EUR) to British pound sterling (GBP) Fibonacci retracement as of June 4, 2024
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Statista. (June 5, 2024). Euro (EUR) to British pound sterling (GBP) Fibonacci retracement as of June 4, 2024 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1336417/eur-gbp-fibonacci-retracement/
Statista. "Euro (EUR) to British pound sterling (GBP) Fibonacci retracement as of June 4, 2024." Chart. June 5, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1336417/eur-gbp-fibonacci-retracement/
Statista. (2024). Euro (EUR) to British pound sterling (GBP) Fibonacci retracement as of June 4, 2024. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1336417/eur-gbp-fibonacci-retracement/
Statista. "Euro (Eur) to British Pound Sterling (Gbp) Fibonacci Retracement as of June 4, 2024." Statista, Statista Inc., 5 Jun 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1336417/eur-gbp-fibonacci-retracement/
Statista, Euro (EUR) to British pound sterling (GBP) Fibonacci retracement as of June 4, 2024 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1336417/eur-gbp-fibonacci-retracement/ (last visited November 10, 2024)
Euro (EUR) to British pound sterling (GBP) Fibonacci retracement as of June 4, 2024 [Graph], Statista, June 5, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1336417/eur-gbp-fibonacci-retracement/
