U.S. Markets closed

Forex Analysis: EUR/GBP Classic Technical Report 12.31.2012

Ilya Spivak

Prices put in a Bearish Engulfing candlestick pattern below rising channel resistance (now at 0.8231), hinting a move lower is ahead. A break below resistance-turned-support at 0.8155 initially aims for a rising trend line set from late July (0.8067).


Forex_Analysis_EURGBP_Classic_Technical_Report_12.31.2012_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 12.31.2012

Daily Chart - Created Using FXCM Marketscope 2.0




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


To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak


To be added to Ilya's e-mail distribution list, please CLICK HERE


New to FX? Watch this Video. For live market updates, visit the Real Time News Feed




DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.