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Forex: EUR/GBP Technical Analysis – Holding Short from 0.8533

Forex: EUR/GBP Technical Analysis – Holding Short from 0.8533

Ilya Spivak, Head Strategist, APAC

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EUR/GBP Technical Analysis

  • We remain short as a Dark Cloud Cover pattern marks the return of selling pressure, as expected
  • Key rising trend line support is seen at 0.8535, followed by the 50% Fib expansion at 0.8518
  • A reversal back above 0.8549 (38.2% Fib) targets the 0.8583-88 area (horizontal pivot, 23.6% Fib)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-chf_body_Picture_8.png, Forex: EUR/GBP Technical Analysis – Holding Short from 0.8533

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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