EUR/GBP Technical Analysis (Euro / British Pound)

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February 12, 2013 1:49 AM EST

Forextribe
Updated the:
02/11/2013
EUR/GBP : Breakout of the bullish slant
Sentiment :

0,86

0,8550

--- Follow up analysis ---
The pair EUR/GBP felt on Friday and has validated the breakout of 0.85, offering us a new sell signal. The course has found support on 0.8450 and also on its last bullish slant (brown lines on the chart). On the short term, the price is now in a downtrend channel (pink lines).

I advise traders to trade only short positions as far as the price will be located below 0.8550.
A stay below 0.85 will consolidate our bearish sentiment. Downward breaks of 0.8450 and 0.84 would then offer new sell signals for an extension of the downtrend.

In case of return of above 0.8550 then I would advise traders to wait for a breakout of 0.86 before trading long positions.
Full analysis

Analysis published by Bruno, the 02/11/2013 at 09h45 GMT+2

- Complete sheet of the pair EUR/GBP - Previous EUR/GBP Analysis -
Chart of the pair EUR/GBP - Timeframe 1H
Chart of the pair EUR/GBP - Timeframe 4H

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