Tanalys

EUR/GBP Technical Analysis 04.29.2013

EUR/GBP Technical Analysis – Prices broke support at 0.8434, the 50% Fibonacci expansion, exposing the 61.8% level at 0.8386. A further push below that aims for the 76.4% Fib at 0.8327. Alternatively, a move back above 0.8434 targets the 38.2% expansion at 0.8481.

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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