fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for EUR/GBP  Mon Mar 18, 2013 11:08 am | |
| Technical Analysis for EUR/GBP The pair dipped below 0.8570 key support level, and neckline for a double top formation as shown on chart. The bias has turned negative in the near term, and holding below 0.8610 will keep the bearish scenario likely. The next possible target for this correction is near 0.8450 key swing low and major support. Support: 0.8535, 0.8515, 0.8495, 0.8470, 0.8445 Resistance: 0.8560, 0.8575, 0.8600, 0.8630, 0.8660 Recommendation Based on the charts and explanations above, we prefer to short the pair below 0.8570 targeting 0.8520 and 0.8450. Stop loss above 0.8615.  | |
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