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Forex: EUR/GBP Technical Analysis – Corrective Bounce Next Up?

Forex: EUR/GBP Technical Analysis – Corrective Bounce Next Up?

2013-09-10 11:38:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Bullish Morning Star candle pattern above support at 0.8387 (100% Fib) hints at upswing
  • Near-term resistance at 0.8449 (76.4% Fib); break higher aims for the 61.8% Fib at 0.8488
  • Bounce from here is likely to be corrective and we will continue to hold a short position

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

dailyclassics_eur-chf_body_Picture_8.png, Forex: EUR/GBP Technical Analysis – Corrective Bounce Next Up?

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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