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Forex: EUR/GBP Technical Analysis – Channel Top Holds Up

Forex: EUR/GBP Technical Analysis – Channel Top Holds Up

2013-12-05 01:07:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices moved to test resistance at 0.8314 (falling channel top from mid-Nov)
  • A break higher initially targets 0.8330 and 0.8379 (23.6% and 38.2% Fibs, respectively)
  • Near-term support is at 0.8303 (Dec 2 low), followed by 0.8222 (channel bottom)

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

dailyclassics_eur-chf_body_Picture_12.png, Forex: EUR/GBP Technical Analysis – Channel Top Holds Up

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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