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EUR/GBP Technical Analysis 04.24.2013

EUR/GBP Technical Analysis 04.24.2013

Ilya Spivak, Head Strategist, APAC

EUR/GBP Technical Analysis - Prices broke support at 0.8545, the 23.6% Fibonacci expansion, exposing the 38.2% level at 0.8481. A further push below that aims for the 50% Fib at 0.8434. Alternatively, a move back above 0.8540 aims for rising trend line support-turned-resistance at 0.8562.

Forex_EURGBP_Technical_Analysis_04.24.2013_body_Picture_1.png, EUR/GBP Technical Analysis 04.24.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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--- 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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