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EURGBP - Bear Pressure To Target The 0.8315 Level |
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Technical Archives |
Written by FXTechstrategy |
Jul 28 10 06:19 GMT
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EURGBP - Bear Pressure To Target The 0.8315 Level
EURGBP - Having reversed its Monday gains on Tuesday, risks are now building towards a retarget of the 0.8315 level, its July 13'10 low. On a convincing violation of that level, ways will open for further weakness towards its July 05'10 low at 0.8251 and possibly lower. However, to annul its current downside vulnerability a break and hold above its July 22'10 high at 0.8464 will have to be established to clear the way for a run at the 0.8530/31 levels. On further strength its May 21'10 high at 0.8772 will be targeted.
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About the AuthorMohammed Isah
Market Analyst
www.fxtechstrategy.com
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report |
