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Forex: EUR/GBP Technical Analysis – Resistance Met Below 0.84

Forex: EUR/GBP Technical Analysis – Resistance Met Below 0.84

2013-12-09 09:08:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices broke the top of a falling channel set from mid-Nov to expose 0.8379 (38.2% Fib)
  • A further push upward beyond that targets 0.8418 (50% Fib retracement)
  • Reversing below 0.8330 (23.6% Fib) eyes 0.8293 (falling channel top)

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dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Resistance Met Below 0.84

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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