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Forex Analysis: EUR/GBP Classic Technical Report 12.19.2012

Forex Analysis: EUR/GBP Classic Technical Report 12.19.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing above the 61.8%Fibonacci expansion at 0.8150, with a confirmed break targeting the 76.4% level at 0.8177. Near-term support is at 0.8135, marked by a rising trend line set from the December 10 low. A reversal beneath that aims for the 50% Fib at 0.8128.

Forex_Analysis_EURGBP_Classic_Technical_Report_12.19.2012_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 12.19.2012

4hr 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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