Forex Analysis: EUR/GBP Classic Technical Report 01.16.2013

Prices pulled back to retest the 76.4% Fibonacci expansion at 0.8275. A break back below that aims for rising channel resistance-turned-support is at 0.8249, followed by the 0.8215-20 area. Interim resistance is at 0.8325, the January 14 high, followed 100% level at 0.8372.

Daily Chart - Created Using FXCM Marketscope 2.0

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

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