Large Triangle Setup in EUR/GBP Currency Pair

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By Jamie Saettele | Published 11/25/2005 | Currency | Unrated

Large Triangle Setup in EUR/GBP Currency Pair

Weekly Chart Analysis: Large Triangle Setup in EUR/GBP

EUR/GBP continues to trade within a Large Triangle
High probability setup points to a possible move toward the Triangle's lower boundary
Failure analysis points to a move a break above the Triangle's upper boundary

Key Levels - Current Price: .6828

Level   Type            Significance
.7106   Resistance    2005 High
.6981   Resistance    23.6 Fib of the .6576-.7106 EUR rally
.6904   Resistance    38.2 Fib of the .6576-.7106 EUR rally
.6876   Resistance    Triangle's Upper boundary
.6841   Resistance    50.0 Fib of the .6576-.7106 EUR rally
.6778   Support         61.8 Fib of the .6576-.7106 EUR rally
.6689   Support         78.6 Fib of the .6576-.7106 EUR rally
.6630   Support         Triangle's Lower boundary

Weekly Chart 11-25-05

Daily Chart I 11-25-05

Daily Chart II 11-25-05

Daily Chart III 11-25-05

Sam Shenker is a Technical Currency Analyst for FXCM.

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