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FOREX ANALYSIS: EURGBP Classic Technical Report 10.25.2012

FOREX ANALYSIS: EURGBP Classic Technical Report 10.25.2012

2012-10-25 10:31:00
Ilya Spivak, Head Strategist, APAC
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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.

FOREX_ANALYSIS_EURGBP_Classic_Technical_Report_10.25.2012_body_Picture_5.png, FOREX ANALYSIS: EURGBP Classic Technical Report 10.25.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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