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EUR/GBP Technical Analysis: Range Resistance in Play

EUR/GBP Technical Analysis: Range Resistance in Play

2013-06-19 07:03:00
Ilya Spivak, Head Strategist, APAC
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EUR/GBP Technical Analysis – Prices bounced from rising trend line support set from early May (0.8495) to challenge near-term resistance is at 0.8575.A break above that eyes swing highs in the 0.8598-0.8636 area. Trend line support is now at 0.8498, with a push beneath that aiming for the recent range bottom at 0.8409.

dailyclassics_eur-chf_body_Picture_8.png, EUR/GBP Technical Analysis: Range Resistance in Play

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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