U.S. Markets close in 4 hrs 24 mins

Forex Analysis: EURGBP Classic Technical Report 11.09.2012

Ilya Spivak

Prices broke support at 0.8006, the 38.2% Fibonacci retracement, to expose the 0.7950-57 area marked by the May 16 low and the 50% Fib. A push beneath that targets the 76.4% level at 0.7908. The 0.8006 level has been recast as resistance, with a reversal back above that targeting rising trend support-turned-resistance at 0.8039.


Forex_Analysis_EURGBP_Classic_Technical_Report_11.09.2012_body_Picture_5.png, Forex Analysis: EURGBP Classic Technical Report 11.09.2012

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.