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Forex: EUR/GBP Technical Analysis – Waiting for Top to Form

Forex: EUR/GBP Technical Analysis – Waiting for Top to Form

2013-10-31 04:49:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • A Rising Wedge chart pattern warns a reversal lower may be brewing ahead
  • Breaking below 0.8550 (50% Fib) targets the Wedge bottom at 0.8516
  • Pushing above the Wedge top (now at 0.8584) initially targets 0.8602 (61.8% Fib)

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

dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Waiting for Top to Form

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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