Prices broke resistance at 0.8102, the 23.6% Fibonacci retracement, exposing the December 5 high at 0.8146. This barrier is reinforced by trend line support-turned-resistance at 0.8150. The 0.8102 level has been recast as near-term support, with a slide back below that targeting the 38.2% Fib at 0.8075.

Forex_Analysis_EURGBP_Classic_Technical_Report_12.14.2012_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 12.14.2012

8hr Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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