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Forex Analysis: EUR/GBP Classic Technical Report 01.11.2013

Forex Analysis: EUR/GBP Classic Technical Report 01.11.2013

2013-01-11 15:00:00
Ilya Spivak, Head Strategist, APAC
Share:

Prices are testing resistance at 0.8229, the 76.4% Fibonacci expansion. This barrier is reinforced by the top of a rising channel set from mid-September (0.8244). A break above the latter level targets the 100% expansion at 0.8273. Near-term support is at 0.8201, the 61.8% level, with a move below that exposing the 50% Fib at 0.8179.

Forex_Analysis_EURGBP_Classic_Technical_Report_01.11.2013_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 01.11.2013

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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