EURGBP Classic Technical Report 10.08.2012
Prices took out resistance at 0.8060, the 38.2% Fibonacci expansion, with buyers now aiming to challenge the 50% Fib at 0.8104. A break above that barrier exposes the 61.8% Fib at 0.8104. The 0.8146 level has been recast as support, with a reversal back below that aiming for the 23.6% expansion at 0.8008.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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