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
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.