EUR/GBP Technical Analysis (Euro / British Pound)

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February 7, 2013 1:31 AM EST

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

Sentiment :



--- Follow up analysis ---
The pair EUR/GBP rebounded yesterday on its short term bullish slant (purple line).
After a return above 0.86, the price extended its bullish rally and has validated the breakout of 0.8650. This morning, the price is testing this level as support.

I advise traders to trade only long positions as far as the price will be located above 0.86.
A stay above 0.8650 will strengthen this bullish sentiment.
A break of 0.87 would give a new buy signal for an extension of the bullish movement towards 0.8750.

In case of return below 0.86 (level of the short-term bullish slant) then I would advise traders to wait for a break of 0.8550 before trading short positions.
Full analysis

Analysis published by Bruno, the 02/06/2013 at 10h00 GMT+2

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