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Forex: EUR/GBP Technical Analysis – Euro Edging to 3-Week Low

Forex: EUR/GBP Technical Analysis – Euro Edging to 3-Week Low

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices declined as expected, completing a Rising Wedge chart formation
  • Sellers are testing support at 0.8462 (38.2% Fib); below that exposes 0.8424 (50% Fib)
  • Back above 0.8509 (23.6% expansion) aims the Wedge bottom (now at 0.8539)

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

dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Euro Edging to 3-Week Low

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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