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Forex: EUR/GBP Technical Analysis – Attempting to Break Upward

Forex: EUR/GBP Technical Analysis – Attempting to Break Upward

2013-11-27 09:54:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • A Bullish Engulfing candle pattern hints at a double bottom forming above 0.8300
  • Resistance is at 0.8366 (23.6% Fib ret.); a close above that eyes 0.8408 (38.2% Fib ret.)
  • Below support at 0.8299-0.8314 (Nov7 low, 61.8% Fib exp) eyes 0.8251 (76.4% Fib exp.)

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

dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Attempting to Break Upward

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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