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Forex Analysis: EUR/GBP Classic Technical Report 11.19.2012

Forex Analysis: EUR/GBP Classic Technical Report 11.19.2012

2012-11-19 07:45:00
Ilya Spivak, Sr. Currency Strategist
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Prices turned lower after challenging the underside of a previously broken rising trend line set from late July (0.8063) with sellers now aiming for the 38.2% Fibonacci retracement at 0.8006. A break below that targets the 0.7950-57 area. Alternatively, a reversal back above the trend line and the 23.6% Fib at 0.8066 aims for the 14.6% level at 0.8103.

Forex_Analysis_EURGBP_Classic_Technical_Report_11.19.2012_body_Picture_5.png, Forex Analysis: EUR/GBP Classic Technical Report 11.19.2012

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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