We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • RT @NickTimiraos: Trump elaborates on his White House meeting with Powell. One question is whether private pressure has any effect when the…
  • LIVE NOW: Join Analyst and Editor @MartinSEssex as he discusses the most important events and themes that have driven market sentiment and will drive it in the days ahead. Register here: https://www.dailyfx.com/webinars/181540619?CHID=9&QPID=917720
  • $GBPUSD option market pricing for General election (expiring Dec 13th) - Volatility at +48% with a break-even of 330pips https://t.co/jiLzZolZ0p
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/Uiohe30J5b
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 0.33% Gold: -0.27% Oil - US Crude: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/YPHs0zoO6x
  • RT @YuanTalks: #PBOC governor Yi Gang: #China will step up credit support to the economy and push real lending rates lower; authorities wil…
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.19% 🇦🇺AUD: 0.18% 🇪🇺EUR: 0.01% 🇯🇵JPY: -0.09% 🇨🇭CHF: -0.16% 🇬🇧GBP: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GewadYWMXP
  • RT @business: The U.S. is conducting more patrols in the South China Sea to send a signal to China, says Defense Secretary Mark Esper https…
  • Coming up at half past the hour: my weekly webinar on market sentiment. Do join me if you're free. You can sign up for it here: https://www.dailyfx.com/webinars/181540619?CHID=9&QPID=917711
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.27% France 40: 0.72% Wall Street: 0.38% US 500: 0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/94vQ1k881K
Forex Analysis: EURGBP Classic Technical Report 11.08.2012

Forex Analysis: EURGBP Classic Technical Report 11.08.2012

2012-11-08 13:13:00
Ilya Spivak, Sr. Currency Strategist
Share:

Prices broke support at 0.8006, the 38.2% Fibonacci retracement, to expose the 0.7950-57 area marked by the May 16 low and the 50% Fib. A push beneath that targets the 76.4% level at 0.7908. The 0.8006 level has been recast as resistance, with a reversal back above that targeting rising trend support-turned-resistance at 0.8034.

Forex_Analysis_EURGBP_Classic_Technical_Report_11.08.2012_body_Picture_5.png, Forex Analysis: EURGBP Classic Technical Report 11.08.2012

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

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.