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Forex: EUR/GBP Technical Analysis – Sideways Drift Sub-0.85

Forex: EUR/GBP Technical Analysis – Sideways Drift Sub-0.85

2013-10-22 12:17:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices broke falling channel resistance to expose 0.8498 (38.2% Fib)
  • Piercing resistance exposes 0.8550 (50% Fibonacci retracement)
  • Near-term support is at 0.8435 (23.6% Fib); break below that eyes 0.8411 (channel top)

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

dailyclassics_eur-chf_body_Picture_10.png, Forex: EUR/GBP Technical Analysis – Sideways Drift Sub-0.85

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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