Forex: EUR/GBP Technical Analysis – Testing October Swing Bottom

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Talking Points

  • Prices declined as expected, completing a Rising Wedge chart formation
  • Breaking support in the 0.8332-40 area (76.4% Fib, Oct 1 low) eyes 0.8265 (100% Fib)
  • Resistance is at 0.8387 (61.8% Fib); a reversal above that targets 0.8425 (50% Fib)

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dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Testing October Swing Bottom

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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