Forex: EUR/GBP Technical Analysis – Rebound Starts at October Low

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Talking Points

  • Prices declined as expected, completing a Rising Wedge chart formation
  • A cautious recovery has now begun from support at 0.8332, the Oct 1 low
  • Initial resistance is at 0.8408 (38.2% Fib ret.); above that targets 0.8442 (50% Fib)

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dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Rebound Starts at October Low

Daily Chart - Created Using FXCM Marketscope 2.0

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

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