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Forex: EUR/GBP Technical Analysis – Support Found Below 0.85

Ilya Spivak

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Talking Points

  • Prices declined as expected, completing a Rising Wedge chart formation

  • Sellers are testing support at 0.8462 (38.2% Fib); below that exposes 0.8424 (50% Fib)

  • Back above 0.8509 (23.6% expansion) aims the Wedge bottom (now at 0.8531)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Support Found Below 0.85
dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Support Found Below 0.85

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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