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Forex Analysis: EUR/GBP Classic Technical Report 12.12.2012

Forex Analysis: EUR/GBP Classic Technical Report 12.12.2012

Ilya Spivak, Head Strategist, APAC

Prices edged back above support-turned-resistance at 0.8066, the 23.6% Fibonacci retracement, exposing the 14.6% level at 0.8103. A push above that targets the underside of a trend line set from late July, now at 0.8158. Alternatively, a reversal back lower aims for the 38.2% Fib at 0.8006.

Forex_Analysis_EURGBP_Classic_Technical_Report_12.12.2012_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 12.12.2012

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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