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Forex Analysis: EUR/GBP Classic Technical Report 12.03.2012

Forex Analysis: EUR/GBP Classic Technical Report 12.03.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing above resistance at 0.8114, the 38.2% Fibonacci retracement, with a break above that targeting rising channel support at 0.8152 and the 50% level at 0.8161. Channel support is at 0.8093, with a break below that aiming for the 23.6% Fib at 0.8055.

Forex_Analysis_EURGBP_Classic_Technical_Report_12.03.2012_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 12.03.2012

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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