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Forex: EUR/GBP Technical Analysis – Resistance Below 0.84 in Focus

Forex: EUR/GBP Technical Analysis – Resistance Below 0.84 in Focus

2014-01-17 05:32:00
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 0.8357 (23.6% Fib); above that targets 0.8404 (trend line)
  • Support is at the 0.83 figure, followed by a double bottom at 0.8251

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

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

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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