EUR/GBP Technical Analysis 02.19.2013

DailyFX

EUR/GBP Technical Analysis - Prices broke above resistance at 0.8595, the 23.6% Fibonacci expansion. Buyers now target the 38.2% level at 0.8687, with a push above that aiming for the 50% mark at 0.8687. The 0.8595 mark has been recast as support. A reversal back below that aims for the 14.6% expansion at 0.8538, followed by the February 8 lowat 0.8446.

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Forex_EURGBP_Technical_Analysis_02.19.2013_body_Picture_5.png, EUR/GBP Technical Analysis 02.19.2013

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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