EUR/GBP Technical Analysis 05.24.2013

DailyFX

EUR/GBP Technical Analysis – The formation of a Triangle chart preceded a breakout higher, as expected. Buyers now aim to challenge the 23.6% Fibonacci expansion at 0.8648, with a break above that exposing the 38.2% level at 0.8803. Near-term support is in the 0.8506-25 area.

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Forex_EURGBP_Technical_Analysis_05.24.2013_body_Picture_5.png, EUR/GBP Technical Analysis 05.24.2013

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

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