Sunday, July 11, 2010

EURGBP Intraday Market Thought 11072010

EURUGBP tested last weeks lower band suport area medium term sitting range [0.7730,0.8110].
Strong reaction last weeks eurgbp test this week first major resistance for upside [0.8425,0.8455] chart 1. and this area can resume this upside for now.
Pattern last sessions chart 2. give us a minor suport chart 4 hours at 0.8376 and major suport at 83.30. Close 4 hours below 0.8330 expect pullback between 0.50 and 61.8% fibonacci.
Break range [0.8425,0.8455] next resistance 0.8502.
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Click to zoom in. Good luck folks.
Chart 2
Chart 1


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