Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account


DailyFX Home / Technical Analysis / Daily Classical

Forex Analysis: EUR/GBP Classic Technical Report 12.17.2012

By , Currency Strategist
17 December 2012 12:59 GMT

Prices broke support at 0.8128, the 50% Fibonacci expansion, exposing a rising trend line set from the December 10 low (now at 0.8114). A push below that targets the 38.2% level at 0.8106. The 0.8128 level has been recast as near-term resistance, with a reversal back above that aims for the 61.8% Fib at 0.8150.

Forex_Analysis_EURGBP_Classic_Technical_Report_12.17.2012_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 12.17.2012

4hr Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

17 December 2012 12:59 GMT