U.S. Markets closed

Forex Analysis: EUR/GBP Classic Technical Report 11.27.2012

Ilya Spivak

Prices are testing resistance at 0.8103, the 14.6%Fibonacci retracement. This barrier is reinforced by the underside of a previously broken rising trend line set from late July (0.8108). A break above that exposes the October 22 high at 0.8164. Near-term support is at 0.8066, the 23.6% retracement. A drop below that aims for the 38.2% retracement at 0.8006.

Forex_Analysis_EURGBP_Classic_Technical_Report_11.27.2012_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 11.27.2012

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.