EURGBP Classic Technical Report 08.20.2012
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 0.7916. Near-term support is at 0.7808, the 38.2% Fib. A push below that targets the 50% level at 0.7760.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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