fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for EUR/GBP  Thu Aug 15, 2013 10:35 am | |
|  Technical Analysis for EUR/GBP The pair dips sharply lower, settling below 0.8580 support level and the 50-days SMA, accordingly flipping the bias to bearish, eying a retest of 0.8465 major low as an initial downside target, and probably lower towards the main ascending trend line near the 200-days SMA Support: 0.8550, 0.8500, 0.8470, 0.8430, 0.8400 Resistance: 0.8575, 0.8620, 0.8675, 0.8700, 0.8740 Recommendation Short below 0.8580 targets at 0.8525 and 0.8465. Invalidation hourly closing above 0.8630 | |
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