Forex: EUR/GBP Technical Analysis – Turn Lower Signaled Ahead

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Talking Points

  • Prices put in a Bearish Engulfing candlestick pattern, hinting at a move lower ahead
  • Initial support is at 0.8316 (23.6% Fib exp.); below that targets 0.8267 (38.2% Fib)
  • Near-term resistance is at 0.8395, the December 9 swing high

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dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Turn Lower Signaled Ahead

Daily Chart - Created Using FXCM Marketscope 2.0

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

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