Forex Analysis: EUR/GBP Classic Technical Report 12.12.2012

Prices edged back above support-turned-resistance at 0.8066, the 23.6% Fibonacci retracement, exposing the 14.6% level at 0.8103. A push above that targets the underside of a trend line set from late July, now at 0.8158. Alternatively, a reversal back lower aims for the 38.2% Fib at 0.8006.

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