Forex Analysis: EUR/GBP Technical Analysis 01.31.2013
Prices are hovering near the 0.86 figure, with negative RSI divergence warning a pullback may be ahead. Near-term support is at 0.8525, marked by the 23.6% Fibonacci retracement and a rising channel bottom. A break below that exposes the 38.2% level at 0.8475. Near-term resistance is at 0.8605, the January 30 high.
8hr 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.