FOREX ANALYSIS: EURGBP Classic Technical Report 10.25.2012
Prices are testing below support at 0.8066, the 23.6% Fibonacci retracement, with a confirmed break lower targeting a rising trend line set from late July (0.8010). This barrier is reinforced by the 38.2% Fib at 0.8006. Near-term support is at 0.8095, with a reversal above that exposing 0.8164.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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