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EUR/GBP Technical Analysis: Euro Sets 4-Month High

EUR/GBP Technical Analysis: Euro Sets 4-Month High

2013-07-31 11:42:00
Ilya Spivak, Head Strategist, APAC
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EUR/GBP Technical Analysis – Prices rebounded as expected after putting in a bullish Piercing Line candlestick pattern. The pair is now testing resistance at 0.8730, the 61.8% Fibonacci expansion, with a break above that targeting the 76.4% level at 0.8766. Near-term support is at 0.8702, the 50% Fib, followed by the 38.2% expansion at 0.8573.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-chf_body_Picture_8.png, EUR/GBP Technical Analysis: Euro Sets 4-Month High

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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