EUR/GBP Technical Analysis 05.01.2013


EUR/GBP Technical Analysis - Prices appear to be carving out a Triangle chart formation, which may be broadly indicative of bullish continuation (although confirmation is required on a break above the setup’s upper boundary). Near-term resistance is at 0.8503, the 14.6% Fibonacci expansion, with a break above that targeting the 23.6% level at 0.8569. Triangle support is now at 0.8397.

View photo

Forex_EURGBP_Technical_Analysis_05.01.2013_body_Picture_5.png, EUR/GBP Technical Analysis 05.01.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)