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EUR/GBP Technical Analysis 03.15.2013

By , Currency Strategist
15 March 2013 11:36 GMT

EUR/GBP Technical Analysis - Prices broke support at 0.8642, the 23.6% Fibonacci expansion, completing a bearish Rising Wedge chart formation and exposing the 38.2% level at 0.8535. Alternatively, a reversal back above 0.8642 and the Wedge bottom (now at 0.8659) aims for the 14.6% retracement at 0.8708.

Forex_EURGBP_Technical_Analysis_03.15.2013_body_Picture_5.png, EUR/GBP Technical Analysis 03.15.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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15 March 2013 11:36 GMT