09th Aug - EUR/GBP Between Two Pivotal Levels
09 August 2013
WEEKLY CHART:
The market earlier slipped back after testing resistance from the 0.8770 76.4% level and projected channel top. It has now firmed up to retest these barriers. A break higher would be a bullish sign. On the downside...
DAILY CHART:
...on this chart key support has come from the 38.2% pullback level. The cross recently eroded the 76.4% rebound level, but has so far failed to hold above, leaving the 0.8814 Feb high intact for now.
It is still possible that bull interest could wane and lead to a retest of this key support. A drop below the 0.8466 26-Jun low would confirm this as the likely scenario.
Next story:
8th August - The strange case of the Yen bonds 
Previous story:
08th Aug - Second Upleg in Cocoa Continues