Forex Analysis: EUR/GBP Classic Technical Report 01.11.2013


Prices are testing resistance at 0.8229, the 76.4% Fibonacci expansion. This barrier is reinforced by the top of a rising channel set from mid-September (0.8244). A break above the latter level targets the 100% expansion at 0.8273. Near-term support is at 0.8201, the 61.8% level, with a move below that exposing the 50% Fib at 0.8179.

View photo

Forex_Analysis_EURGBP_Classic_Technical_Report_01.11.2013_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 01.11.2013

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)