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Forex: EUR/GBP Technical Analysis – Candles Hint at Gains Ahead

Forex: EUR/GBP Technical Analysis – Candles Hint at Gains Ahead

2014-01-24 13:11:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • A Bullish Engulfing candle pattern hints a move higher is ahead
  • Breaking above 0.8238 (23.6% Fib ret.) targets 0.8281 (38.2% Fib ret.)
  • Near-term support is at 0.8167 (Jan 22 low)

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

dailyclassics_eur-chf_body_Picture_8.png, Forex: EUR/GBP Technical Analysis – Candles Hint at Gains Ahead

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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