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EUR/GBP Classic Technical Report 07.03.2012

EUR/GBP Classic Technical Report 07.03.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing 50% Fibonacci expansion support at 0.8008, with a break lower exposing the 61.8% level at 0.7988. Near-term resistance lines up at 0.8028 marked by the 38.2% Fib, with a break above that targeting the 23.6% boundary at 0.8053.

EURGBP_Classic_Technical_Report_07.03.2012_body_Picture_5.png, EUR/GBP Classic Technical Report 07.03.2012

4hr 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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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