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  • if looking to fade the recent run of $USD strength, $GBPUSD a compelling option. Prior high-flyer beset by a sizable pullback on the USD spike. https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/03/01/British-Pound-Technical-Analysis-GBPUSD-GBP-USD-Pullback-Grinds-Support.html https://t.co/trjy7gn1Ty
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  • Equities have managed to start the new month on the front foot as bond yields are taking a breather from their rapid surge over the last few weeks. DAX 30 bulls aim towards the 14,000 mark. Get your #DAX market update from @HathornSabin here:https://t.co/E7CYIM0KQC https://t.co/bnFyQfXLP6
EUR/GBP Technical Analysis 03.28.2013

EUR/GBP Technical Analysis 03.28.2013

Ilya Spivak, Head Strategist, APAC

EUR/GBP Technical Analysis - Prices continue to push lower after completing a bearish Rising Wedge chart formation. Sellers are now testing support at 0.8408, the 38.2% Fibonacci retracement, with a break below that exposing the 50% level at 0.8282. Near-term resistance is at 0.8563, the 23.6% Fib.

Forex_EURGBP_Technical_Analysis_03.28.2013_body_Picture_5.png, EUR/GBP Technical Analysis 03.28.2013

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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