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Forex: EUR/GBP Technical Analysis – Sellers Ready to Take Over?

Forex: EUR/GBP Technical Analysis – Sellers Ready to Take Over?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices put in a Bearish Engulfing candlestick pattern, hinting at a move lower ahead
  • Initial support is at 0.8316 (23.6% Fib exp.); below that targets 0.8267 (38.2% Fib)
  • Near-term resistance is at 0.8395, the December 9 swing high

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

dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Sellers Ready to Take Over?

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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