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Forex Analysis: EUR/GBP Classic Technical Report 11.21.2012

Ilya Spivak

Prices are consolidating below resistance at the 23.6% Fibonacci retracement at 0.8066. A break above that targets the underside of a previously broken rising trend line set from late July (0.8080) and the 14.6% level at 0.8103. Alternatively, a push below support at 0.8006, the 38.2% retracement, exposes the 0.7950-57 area.

Forex_Analysis_EURGBP_Classic_Technical_Report_11.21.2012_body_Picture_5.png, Forex Analysis: EUR/GBP Classic Technical Report 11.21.2012

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

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