EUR/GBP Technical Analysis (Euro / British Pound)

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February 6, 2013 2:22 AM EST

Updated the:
EUR/GBP : Breakout of the bullish slant

Sentiment :



--- Follow up analysis ---
The pair EUR/GBP felt sharply yesterday from 0.87 to its short-term bullish slants (purple line).The price tries to bounce back this morning.

I advise traders to remain flat on the pair as far as the price will be between 0.8550 and 0.86.
I would advise to wait an exit of this range to take position :

- Long is 0.86 is broken up. The upward breaks of 0.8650 and 0.87 would then offer new buy signals for an extension of the bullish movement.

- Short is 0.8550 is broken. The price should also validated the break out of its short term bullish slant. A break of 0.85 would give a new sell signal for an extension of the downtrend.
Full analysis

Analysis published by Bruno, the 02/05/2013 at 10h30 GMT+2

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