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

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

2013-12-24 10:57:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices moved sharply lower to test support at 0.8338 (38.2% Fib expansion)
  • A break downward exposes 0.8299 (50% Fib exp.)
  • Turning back above resistance at 0.8387 (23.6% Fib) targets 0.8465 (Dec 17 high)

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

dailyclassics_eur-chf_body_Picture_6.png, Forex: EUR/GBP Technical Analysis – Resistance Below 0.84 Figure

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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