Forex Analysis: EURGBP Classic Technical Report 11.09.2012

DailyFX

Prices broke support at 0.8006, the 38.2% Fibonacci retracement, to expose the 0.7950-57 area marked by the May 16 low and the 50% Fib. A push beneath that targets the 76.4% level at 0.7908. The 0.8006 level has been recast as resistance, with a reversal back above that targeting rising trend support-turned-resistance at 0.8039.

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Forex_Analysis_EURGBP_Classic_Technical_Report_11.09.2012_body_Picture_5.png, Forex Analysis: EURGBP Classic Technical Report 11.09.2012

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

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