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Forex: EUR/GBP Technical Analysis – Rebound Runs Into Resistance

Forex: EUR/GBP Technical Analysis – Rebound Runs Into Resistance

2013-09-23 09:24:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • 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.

dailyclassics_eur-chf_body_Picture_8.png, Forex: EUR/GBP Technical Analysis – Rebound Runs Into Resistance

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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