Forex Analysis: EURGBP Classic Technical Report 11.07.2012

DailyFX

Prices are bouncing from support at 0.8006, the 38.2% Fibonacci retracement, to retest rising trend support-turned-resistance at 0.8031. A push above that targets the 23.6% Fib at 0.8066. Alternatively, a break below 0.8006 exposes the 0.7950-57 area marked by the May 16 low and the 50% Fib.

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Forex_Analysis_EURGBP_Classic_Technical_Report_11.07.2012_body_Picture_5.png, Forex Analysis: EURGBP Classic Technical Report 11.07.2012

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

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