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  • The price of #gold may continue to exhibit a bullish behavior in June as the pullback from the yearly high ($1765) reverses ahead of the May low ($1670). Get your Gold market update from @DavidJSong here: https://t.co/OeaYtCpcIo https://t.co/UQVPIVCTCP
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  • The $USD, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop. Find out from @ZabelinDimitri here: https://t.co/L8cfAgVx94 https://t.co/THWhPAS6AM
EUR/GBP Technical Analysis 02.07.2013

EUR/GBP Technical Analysis 02.07.2013

2013-02-07 12:21:00
Ilya Spivak, Head Strategist, APAC
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EUR/GBP Technical Analysis - Prices put in a bearish Dark Cloud Cover candlestick, hinting a move lower is ahead. Initial support is at 0.8567, the 23.6% Fibonacci retracement. A break below that targets the 38.2% level at 0.8475. Near-term resistance is at 0.8716, the February 1 high.

Forex_EURGBP_Technical_Analysis_02.07.2013_body_Picture_1.png, EUR/GBP Technical Analysis 02.07.2013

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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