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EURGBP Classic Technical Report 10.16.2012

Ilya Spivak

Prices recovered from support at 0.8028, the 23.6% Fibonacci retracement, to rise toward resistance at 0.8095. A break above this boundary targets 0.8141. Alternatively, a drop below support exposes the 38.2% level at 0.7975.

EURGBP_Classic_Technical_Report_10.16.2012_body_Picture_5.png, EURGBP Classic Technical Report 10.16.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

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