Tanalys

EUR/GBP Technical Analysis 05.30.2013

EUR/GBP Technical Analysis – The formation of a Triangle chart preceded a breakout higher, as expected. Buyers now aim to challenge the 23.6% Fibonacci expansion at 0.8648, with a break above that exposing the 38.2% level at 0.8803. Near-term support is at 0.8532, the top of a recently broken rising channel, with a dip below that eyeing the Triangle top at 0.8488. We continue to hold long.

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

Exit mobile version