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Forex: EUR/GBP Technical Analysis – Double Bottom Playing Out

Forex: EUR/GBP Technical Analysis – Double Bottom Playing Out

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices rose as expected, completing a Falling Wedge and a Morning Star candle pattern
  • Near-term resistance is now at 0.8319 (38.2% Fib); above that targets 0.8347 (50% Fib)
  • Back below 0.8285 (23.6% Fib) targets 0.8270 (Wedge top resistance-turned-support)

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

dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Double Bottom Playing Out

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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