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EUR/GBP Technical Analysis 02.13.2013

EUR/GBP Technical Analysis 02.13.2013

Ilya Spivak, Head Strategist, APAC

EUR/GBP Technical Analysis - Prices are recovering to test above resistance at 0.8595, the 23.6% Fibonacci expansion. A break upward initially targets the 38.2% level at 0.8687, followed by the 50% mark at 0.8687. Major support is at 0.8446, the February 8 low.

Forex_EURGBP_Technical_Analysis_02.13.2013_body_Picture_5.png, EUR/GBP Technical Analysis 02.13.2013

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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