EURGBP

Hi all

Look what it bounced off........

clip2net.com/s/2ESGe
261 and the old weekly support

Now then the bearish engulfing looks good at this level but the resistance support needs taking care of as remo pointed out.

RMc

This looks like its testing the breakout point. will it hold????


It could be argued that the breakout point is 8153 as this level was the original resistance from june 11th.



trying to be accurate is my down fall

I'm looking for this one to retrace to the 0.8131 - 0.8108 area before resume the march North toward 0.83+

This is currently knocking on the door

This is another pair worth keeping an eye on:



dl.dropbox.com/u/20815047/EURGBPdaily18_12_12.gif

Looks like a perfect ascending triangle so a close above 8165 should be good to go long on the breakout. Target would be 8560 or possibly the slightly lower horizontal resistance at 8506.

I am inclined to support the long position on this pair. The weekly has shown good HH`s and HL`s on its recent rise, with sensible pullbacks. The chart below imho is showing a new wave pattern starting, but i would liked to have seen a stronger pullback on wave 1 to 2. KI.

clip2net.com/s/2wTDD