Forex: EUR/GBP Technical Analysis – Rebound Runs Into Resistance
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices broke above support-turned-resistance at 0.8409, exposing 0.8450 (23.6% Fib)
- A daily close above that exposes 0.8511 (38.2% Fib); 0.8409 is now support
- We continue tohold short, looking to the bounce as an opportunity to add to the trade
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? Watch this Video
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.