EUR/GBP Technical Analysis – Head and Shoulders Forming?

| 16 april, 2014 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/GBP Technical Strategy: Flat
  • Support: 0.8230 (Apr 8 low)
  • Resistance: 0.8322 (38.2% Fib exp.), 0.8351 (50% Fib exp.)

The Euro may be carving out a significant bottom against the British Pound, with prices tracing out what may become a Head and Shoulders (HS) bottom chart pattern. Confirmation requires a daily close above neckline resistance at 0.8294, a move that would initially expose the 38.2% Fibonacci expansion at 0.8322. Longer term, the HS formation would imply a measured upside objective at 0.8358 if the setup is fully realized. Near-term support is at 0.8230, the April 8 low. We will remain on the sidelines for the time being, waiting for completion of the HS setup to look for buying opportunities.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_eur-chf_body_Picture_11.png, EUR/GBP Technical Analysis  Head and Shoulders Forming?

Daily Chart – Created Using FXCM Marketscope 2.0

— Written by Ilya Spivak, Currency Strategist for

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *