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EURGBP Classic Technical Report 08.17.2012

EURGBP Classic Technical Report 08.17.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing above resistance at 0.7867, the 23.6% Fibonacci expansion, with a break above that exposing a falling trend line set from the late-February top now at 0.7921. Near-term support is at 0.7808, the 38.2% Fib.

EURGBP_Classic_Technical_Report_08.17.2012_body_Picture_5.png, EURGBP Classic Technical Report 08.17.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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