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Forex Analysis: EUR/GBP Classic Technical Report 12.13.2012

Forex Analysis: EUR/GBP Classic Technical Report 12.13.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing resistance at 0.8102, the 23.6% Fibonacci retracement. A break higher targets trend line support-turned-resistance at 0.8124. Near-term support is at 0.8075, the 38.2% Fib. A drop below that exposes the 50% retracement at 0.8053.

Forex_Analysis_EURGBP_Classic_Technical_Report_12.13.2012_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 12.13.2012

8hr 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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