Forex Research Posted October 30, 2012 Report Share Posted October 30, 2012 EURGBP: Biased To The Upside Above Trendline Support. EURGBP- Although the cross may be vulnerable to the downside on correction, as long as it trades and holds above its rising trendline support (red), a return above 0.8163 level should occur. This if seen will resume its short term uptrend towards the 0.8200 level where a violation will call for more upside towards the 0.8268 level. Conversely, support lies at the 0.8001 level with a breach of the latter targeting the 0.7950 level. Further support comes in at the 0.7890 level. A cap is likely to occur and turn it higher. All in all, the cross remains biased to the upside in the short term despite its corrective threats. http://2.bp.blogspot.com/-5rPGfb3Zlag/UI-XvVefLsI/AAAAAAAAGT4/duB1-AZhg6c/s1600/eurgbp200002.gif Quote Link to comment Share on other sites More sharing options...
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