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Forex Analysis: EUR/GBP Classic Technical Report 01.07.2013

Forex Analysis: EUR/GBP Classic Technical Report 01.07.2013

2013-01-07 12:06:00
Ilya Spivak, Head Strategist, APAC
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Prices moved lower as expected after putting in a Bearish Engulfing candlestick pattern below rising channel resistance, taking out support at 0.8154 and exposing an upward-sloping trend line barrier at 0.8097. A further push below that targets the channel bottom at 0.8029. The 0.8154 mark has been recast as near-term resistance, with a turn back above that aiming for the channel top at 0.8234.

Forex_Analysis_EURGBP_Classic_Technical_Report_01.07.2013_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 01.07.2013

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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