EURGBP Classic Technical Report 08.24.2012
Prices took out resistance at a falling trend line set from the late-February top, with the bulls now aiming to challenge the 0.7950-85 area. A break above that sees the next upside barrier at 0.8124. The trend line, now at 0.7897, has been recast as near-term support. A push back below that targets swing lows at 0.7812 and 0.7751.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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