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Forex Analysis: EUR/GBP Classic Technical Report 01.29.2013

Forex Analysis: EUR/GBP Classic Technical Report 01.29.2013

Ilya Spivak, Head Strategist, APAC

Prices are testing resistance at 0.8573, the 61.8% Fibonacci retracement. A break above that targets the 76.4% level at 0.8768. Near-term support is at 0.8416, the 50% Fib, with a drop below that eyeing rising channel resistance-turned-support at 0.8350.

Forex_Analysis_EURGBP_Classic_Technical_Report_01.29.2013_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 01.29.2013

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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