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Forex: EUR/GBP Technical Analysis – Wedge Hints at Recovery

Forex: EUR/GBP Technical Analysis – Wedge Hints at Recovery

2014-01-09 05:26:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • A Falling Wedge chart pattern hints a turn higher may be brewing ahead
  • Pushing above 0.8295 (Wedge top) targets 0.8316 (23.6% Fib ret.)
  • Below 0.8251-55 (Dec 3 low, 38.2% Fib exp.) exposes 0.8232 (50% Fib exp.)

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

dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Wedge Hints at Recovery

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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