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Forex: EUR/GBP Technical Analysis – Short Trade Still in Play

Forex: EUR/GBP Technical Analysis – Short Trade Still in Play

2013-09-03 03:38:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • We remain shortafter a Dark Cloud Cover pattern markeddownward resumption as expected
  • A break below 0.8487 (61.8% Fib) has exposed the 0.8448 (76.4% Fib) as the next objective
  • Reversal back above 0.8487on a daily closing basis targets 0.8518 (50% Fib expansion)

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

dailyclassics_eur-chf_body_Picture_2.png, Forex: EUR/GBP Technical Analysis – Short Trade Still in Play

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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