EUR/GBP Weekly Candlestick Chart. Price action just approaching the target set out in last weeks paper at 0.8850. The 55 SMA, which is currently at 0.8867 should now be used for directional bias on the short term.
Could be due for a rebound soon. The levels to watch for this are 0.8830/20 and the figure 0.8800. Any moves higher should find resistance at the 10 day moving currently at 0.8945 level.
Target while below the 55 MA is the 30 week moving average currently at 0.8800 level and overall bias remains negative for now but watch the 0.8830/20 level.
Weekly Technical Chart
EURGBP Weekly Technical Chart
Tue, Nov 17 2009, 10:15 GMT
by
Gareth Burgess
- Chart-Workshop
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