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Forex pairs in this Article » EUR/GBP, EUR/GBP
Prices are consolidating below resistance at the underside of a previously broken rising trend line set from late July (0.8075), a barrier reinforced by the 23.6% Fibonacci retracement at 0.8066. A break higher targets the 14.6% level at 0.8103. Alternatively, a push below support at 0.8006, the 38.2% retracement, exposes the 0.7950-57 area.

Forex_Analysis_EURGBP_Classic_Technical_Report_11.20.2012_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 11.20.2012 Daily Chart - Created Using FXCM Marketscope 2.0

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

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