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Prices took out resistance at a falling trend line set from the late-February top, with the bulls now aiming to challenge the 0.7950-85 area. A break above that sees the next upside barrier at 0.8124. The trend line, now at 0.7897, has been recast as near-term support. A push back below that targets swing lows at 0.7812 and 0.7751.
i think that we should wait until EURGBP reach the sell level on the moving down trend @.7928 then we can sell this pair as i predict that this pair will move downward after reaching this level.
Support & Resistance 27/08/2012
Sup 1 : 0,7936
Sup 2 : 0,7956
Sup 3 : 0,7980
PIVOT : 0,7913
Res 1 : 0,7893
Res 2 : 0,7869
Res 3 : 0,7849
I continue to hold a long position, the pair until closer to the horizontal level of resistance of 7925, but the bottom is also noticeable sloping trend line (north), from which I think will be the resumption of growth and breakthrough 7525.
EUR / GBP pair closed the first trading day for this week candle doji makes it difficult to determine the direction to frame the four hours we find that the pair could not close above areas 76 fib located at 0.7924 but we can not say that the pair will go down before breaking the uptrend line on the framefour hours
No change in EUR/GBP's outlook. As it's staying below 0.7962 resistance, larger decline from 0.9083 is expected to resume sooner or later. Below 0.7811 should turn bias back to the downside and send the cross through 0.7755 low to 0.7692 key support level next. Though, note again that break of 0.7962 resistance will now be an early sign of reversal and should turn focus back to 0.8152 resistance instead.
http://i45.tinypic.com/2pq3u69.gif
The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 0.7785 and key resistance at 0.8020. Based upon my chart analysis, I prefer to buying the pair above 0.7880 with targets 0.7965 then 0.8000 and stoploss with four hour candle closing below 0.7810.
Pair eur / gbp managed to break through the upper boundary of the converging triangle bulls were stronger, and the northern trend continues, now is a correction after the break, but at the end of it, and the resumption of growth will be buying.
Support & Resistance 28/08/2012
Sup 1 : 0,7926
Sup 2 : 0,7940
Sup 3 : 0,7953
PIVOT : 0,7914
Res 1 : 0,7900
Res 2 : 0,7887
Res 3 : 0,7873
we see strong bullish candles from today,s trading session before we saw some retracement after price touched the trendline resistance, and later retraced to pivot resistance 1, now is a good time to buy with targets at 0.7958 if not we could see euro fall a bit further to 0.7928