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EUR/GBP Technical Analysis 02.04.2013

Ilya Spivak

Prices are testing below support at 0.8674, the 50% Fibonacci expansion, with a breakdown targeting the 38.2% level at 0.8646. Near-term resistance is at 0.8703, the 61.8% Fib. A push above that aims for a rising channel top at 0.8716 and the 76.4% expansion at 0.8738.

Forex_EURGBP_Technical_Analysis_02.04.2013_body_Picture_1.png, EUR/GBP Technical Analysis 02.04.2013

8hr Chart - Created Using FXCM Marketscope 2.0

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

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