http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-11-17.htmlEUR/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 overallTue, 17 Nov 2009 10:15:19 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-11-17.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-11-10.htmlEUR/GBP Weekly Candlestick Chart. 0.8900 region working well as support now but for how much longer? The 0.9020 region is resistance now with 0.9080 above that as stronger resistance. The engulfing candlestick on the weekly chart keeps the pressure on the downside with attempts higher towards 0.9050/80 (if seen) as opportunities to enter shorts for lower levels in coming weeks. Bias remains to the downside with 0.8850 the 55 week simple moving average as target in coming sessions.Tue, 10 Nov 2009 10:18:26 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-11-10.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-11-03.htmlEUR/GBP Weekly Candlestick Chart. Prices got as low as 0.8912, just 12 pips away from the target set out in last weeks technical paper. A nice bounce since then has brought price back to the 0.9000 + region. 0.9040 is currently where the 10 day Moving Average is at and should provide decent short term directional bias. Technically there is another engulfing candlestick on the weekly chart so nothing has changed and the downside remains the direction of least resistance. View 0.9060, 0.9090 andTue, 03 Nov 2009 09:13:59 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-11-03.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-10-27.htmlEUR/GBP Weekly Candlestick Chart. Last weeks strategy was very profitable for the position trade and although the price action did move higher after hitting the 0.9000 target and 10 week Moving Average the technical picture has not changed. The engulfing pattern on the weekly keeps the bias for EUR/GBP lower overall. The 10 week moving average worked well as target and as support and is now at 0.9025. Until prices get below the 10 week moving average there is likely to be some mild rangeTue, 27 Oct 2009 09:11:11 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-10-27.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-10-20.htmlEUR/GBP Weekly Candlestick Chart. Prices back below the 0.9300 level and leaving a large Engulfing candlestick pattern on the weekly chart. This puts pressure on the downside for now and see any attempts higher as an opportunity to go short. 0.9000 level attracts as the near term target to the downside and as a major support level - the 10 week moving average is currently just below this level at 0.8982. Strategy this week is to trade EUR/GBP down to the 0.9000 level and then reassess. AreasTue, 20 Oct 2009 09:07:54 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-10-20.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-10-13.htmlEUR/GBP Weekly Candlestick Chart. A DB on the short term charts last week played out nicely also with a good shorting position coming in afterwards at 0.9260 that eventually yielded 100 pip +/-. Price action now above the 0.618% Fib level creates a bullish stance with the next viable target at 0.9455. Above 0.9300 cancels the downside for now but see this as temporary while GBP is subject to weakness overall - important support on GBP/USD at 1.5675 (see chart) Both the 10 and 30 weekTue, 13 Oct 2009 09:02:58 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-10-13.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-10-06.htmlEUR/GBP Weekly Candlestick Chart. The 10 and 30 week moving averages have now crossed positive with the 10 week moving average pointing upwards. Last week’s target at 0.9145 region did get hit with eventual support coming in at around the 0.9080 level. The result of last week’s price action is now a type of double bottom on the short term charts which if plays out puts a target up towards the 0.9270 region today/tomorrow. Levels to watch for this are 0.9255/60/75 as targets, with the 0.9260Tue, 06 Oct 2009 07:09:04 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-10-06.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-09-29.htmlEUR/GBP Weekly Candlestick Chart. Price action currently residing at last weeks target. There is scope for some pullback this week with the 0.9260 region now acting as resistance, this = 0.618% of the Fibonacci retracement level taken from the December high and the June low. Rallies through this region continue to offer a shorting zone for targets down towards the 0.9145 region this week. There is a type of shooting star candlestick on the daily chart which at current levels keeps the pressureTue, 29 Sep 2009 07:51:58 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-09-29.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-09-22.htmlEUR/GBP Weekly Candlestick Chart. A positive weekly close resulting in a Marabozu type candlestick (almost no shadows), but more importantly the 0.8770 level held as support last week. 0.8900 is approximately the 50% retracement of the Marabozu candlestick and should be supportive on any retracement attempts. For positive price action to continue the 0.9040 region needs to hold to see attempts higher towards the 0.9180 region. Bias is overall positive with a possible near term target towardsTue, 22 Sep 2009 05:51:12 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-09-22.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-08-04.htmlEUR/GBP Weekly Chart. Last weeks price action closed the week back below the 10 week moving average, and prices are currently below the 61.8% retracement level, a level that failed to hold several weeks back. Important support approaching 0.8470 today. If this fails 0.8450 +/- next support for any attempts higher. Both the 10 and 30 week averages are crossed negative and until a close above the 10 week MA is registered the bias remains for further declines.Tue, 04 Aug 2009 07:04:50 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-08-04.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-07-21.htmlEUR/GBP Weekly Candlestick Chart. The target at the 10 week moving average set in last weeks paper has been reached. The upside has been the focus over the past four weeks but attempts above the 10 week moving average have met with strong resistance – not a good sign. Also, both the 10 week and 30 week moving averages are still crossed negative and pointing lower. GBP/USD came up against strong resistance at 1.6420 level last week which has now been broken and has bullish implicationsTue, 21 Jul 2009 05:58:43 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-07-21.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-07-14.htmlEUR/GBP Weekly Candlestick Chart. The target at 0.8675 set in last weeks paper has now been reached resulting in a major sell off. The 10 week moving average held as resistance last week but attempts beyond this level so far this week have found strong resistance. Right now the 0.8590 level is the focus and if prices continue to edge lower the 0.8555 attracts as support going forward which needs to hold on a daily close to remain bullish for the near term. There could be a bear flag forming onTue, 14 Jul 2009 07:00:14 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-07-14.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-07-07.htmlEUR/GBP Weekly Candlestick Chart. A good bounce from last week taking the price from 0.8430 level up as far as 0.8644. Right now 0.8600 is the level to watch and seems to be pivotal. This level was resistance on the daily chart and price action struggled to hold above these levels two weeks ago. Although prices have been higher this week and last week the result was a sharp sell off. Holding above 0.8600 would pave the way to the 10 week moving average currently at 0.8675 level where strongerTue, 07 Jul 2009 05:59:04 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-07-07.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-06-30.htmlEUR/GBP Weekly Candlestick Chart. This mornings price action breaking below the two important levels of support at 0.8470 and 0.8445 after attempts higher struggled at 0.8598. The 0.8423 level is now attracting the price action and is where a bounce should materialise today. Holding below this level opens up the way to 0.8400 which is the base of the hammer that formed on the daily chart on 22.06.09. Plenty of stops likely to placed between those two levels. Below the 0.8400 level couldTue, 30 Jun 2009 07:00:44 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-06-30.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-06-23.htmlEUR/GBP Weekly Candlestick Chart. Price action currently residing around the 61.8% retracement level taken from the October 2008 to December 2008 up move. The weekly close last Friday was the lowest for the year so far and it was also a close below the 61.8% retracement level which overall makes this market look negative. With price action above the 0.8500 level the potential for a return move to the upside remains technically viable as long as the 0.8470 and 0.8445 levels remain intact. TheseTue, 23 Jun 2009 06:47:33 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-06-23.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-06-16.htmlEUR/GBP Weekly Candlestick Chart. The near term bear target at 0.8500 has been realised with 0.8448 the low so far this week (at the time of writing). 0.8500 represents the 61.8% retracement level (see chart for more on this), and below this level the initial direction remains bearish with a potential target lower still towards 0.84(00). Holding below 0.85(00) would also have implications for the bullish long term trend – as holding below the 61.8% retracement level usually signifies aTue, 16 Jun 2009 08:13:29 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-06-16.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-06-09.htmlEUR/GBP Weekly Candlestick Chart. Interesting right now is that prices are still hovering around the 0.8600 level the original bear target which also became the risk level from the last technical paper. Buying dips worked well for the short term but the market is looking increasingly negative now. The question is whether or not this cross has enough momentum to continue the longer term upwards trend from current levels? 0.8640 is relatively important right now and would consider this the lineTue, 09 Jun 2009 07:03:03 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-06-09.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-05-26.htmlEUR/GBP Weekly Candlestick Chart. The 10 week and 30 week moving averages have crossed negative but the 30 week moving average is still pointing upwards! Price action did get as low as 0.8720 falling short of the overall 0.8680 bear target from last weeks paper. The recent strength in GBP/USD and EUR/USD, however, tends to suggest that EUR/GBP will now move into a consolidation phase with a bullish bias stemming from the overall bullish direction of this market. For the short term trade lookTue, 26 May 2009 08:47:58 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-05-26.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-05-19.htmlEUR/GBP Weekly Candlestick Chart. The 10 week MA held on attempts higher last week and price action eventually closed just at the 30 week moving average. Right now prices are trading below the 30 week moving average with the 0.8800 level in focus as of writing. Once below this level the 0.8680 region is the target level to focus on but there are some mild support levels to get through first. Levels to watch are 0.8740 followed by 0.8718 and then 0.8700. Look for a daily close below theTue, 19 May 2009 07:40:36 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-05-19.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-05-12.htmlEUR/GBP Weekly Candlestick Chart. With big moves in the FX markets recently the 30 week moving average has proven to be a very good line of support and together with the 50% retracement level has pushed EUR/GBP price action higher after a failed attempt to move below the 0.8800 level. Although the price action did reach 0.8760 the 30 week moving average is still pointing upwards and not ready to let the price action move lower. With GBP/USD looking ready for some profit taking (needTue, 12 May 2009 07:41:49 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-05-12.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-04-28.htmlEUR/GBP Weekly Candlestick Chart. The price action ending last week slightly higher after a bounce from the 0.8800 region which was also the recommended strategy from last weeks paper. So far the 10 week moving average has worked well as a level to sell at for both traders and investors! Now it becomes the risk level. The overall objective (next 2/3 weeks) in this market is 0.8600/0.8560 region and thus price action to continue to edge lower. Right now the price is caught between both theTue, 28 Apr 2009 08:40:01 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-04-28.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-04-21.htmlEUR/GBP Weekly Candlestick Chart with the current price action below the 10 week moving average but still above the 30 week moving average. A good run down since the 0.9500 region with further bearish potential still likely. The 50% retracement zone and 30 week moving average now acting as a catalyst for supporting the price action which requires a good weekly close below these levels to see the 62.8% level as bear target and as overall objective. But both averages have not crossed negativeTue, 21 Apr 2009 08:38:24 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-04-21.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-04-07.htmlEUR/GBP Weekly Candlestick Chart. The 0.9050 bear target from last weeks paper has been reached and the 10 week moving average is now providing a shelf of support at 0.9040 with the 38.2% retracement zone just below that at 0.9025. These two levels are important for the short term and should halt the price action from any further declines. With both the 10 week and 30 week moving averages pointing upwards and the 50% retracement level having held as support it remains to be seen if the 38.2%Tue, 07 Apr 2009 09:33:10 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-04-07.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-03-31.htmlEUR/GBP weekly candlestick chart with the price action from last weeks chart leaving a small Opening Bozu on the chart (Shaven Head). The price didn’t close over the 61.8% resistance line of the Fibonacci fan and got as low as 0.9156. Of interest is the single candlestick signal which is also known as a Belt-Hold line. The opening level signals good resistance. Definitely a good signal for the bears and a warning to the bulls! The 61,8% lower fan line of the Fibonacci fan continues toTue, 31 Mar 2009 09:29:24 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-03-31.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-03-24.htmlEUR/GBP weekly candlestick chart demonstrating the strength of the bounce off of the 50% retracement level that began with rather muted conviction. The bounce up has now found resistance at the 0.9500 region and is currently approaching 0.9245 support area. The weekly chart shows a Fibonacci fan demonstrating the resistance level quite well. This also produces a type of upward channel that will provide a good directional clue if the price pushes back above this channel or breaks out below. InTue, 24 Mar 2009 09:14:59 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-03-24.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-03-17.htmlEUR/GBP weekly chart. The price action finding support at the 50% retracement taken from the high of 28/12/08 to the low of 10/05/08, that eventually pushed the price action higher above the 10 week moving average. This creates a difficult decision. The question now is whether or not this move higher is a bounce with staying power? GBP/USD has seen some attempt to move higher but until a convincing base forms it is difficult to call for higher price action although that does seem to be theTue, 17 Mar 2009 08:55:05 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-03-17.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-03-03.htmlEUR/GBP 50% retracement level still holding well so far. Attempts lower find buying pressure that keeps the price above the 50% level but attempts higher from the 50% level are still muted. All the time the price action holds the 50% level the targets down at 0.8500 level are on hold. A clear break below the 50% level resulting in a weekly close would help to maintain the bearish stance. Resistance to any further upside activity will be found at the 10 week moving averages around.Tue, 03 Mar 2009 10:10:47 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-03-03.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-02-24.htmlEUR/GBP testing the 50% level for support. Once through this level the downward continuation towards the 61.8 retracement level should resume. The price action is now well below the 10 week simple moving average and is likely to continue lower but probably not in a straight line. There was some muted conviction to the upside after the weekly close above the 50% level. To the upside, if there is any chance of a bounce then current levels (0.8730/50 area +/-), would haveTue, 24 Feb 2009 09:49:00 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-02-24.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-02-10.htmlEUR/GBP – A slow boat to the 61.8%? Having had the expected correction the price action is now well below the 10 week simple moving average and is likely to continue lower but probably not in a straight line. The surpassing of the low of the piercing pattern on the daily candlestick chart triggered a run below the 50% level which is now heading for the 61.8% retracement level. To the upside the 0.8750 (50%) level needs to hold on a weekly close to see any chance of higher action butTue, 10 Feb 2009 10:27:13 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-02-10.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-02-03.htmlEUR/GBP having had the expected correction is now below the 10 week simple moving average. The 0.9400 worked very well as a target area to enter shorts and was followed by a run down to the 0.8800 level. A nice move! Right now there is a piercing pattern on the daily candlestick chart which might produce some basing activity over the next few session and consequently higher price action. For this to happen we would need to see the price action holding at the 0.8965 level on any dips fromTue, 03 Feb 2009 09:48:32 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-02-03.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-01-27.htmlEUR/GBP bouncing off the 10 week moving average and hitting both targets mentioned in last weeks strategy paper 0.9312 and 0.9370. Right now the price action is rotating around the 0.94(00) figure with dips below finding buying pressure. Although GBP/USD slipped to fresh lows the selling pressure did not push the EUR/GBP cross that much higher which would suggest that there is now selling pressure within the cross. The question is when will the correction set in? 0.9415 is roughly the centreTue, 27 Jan 2009 10:34:10 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-01-27.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-01-20.htmlEUR/GBP at time of writing only just approaching the target mentioned in last weeks technical paper. The 10 week moving average still providing a shelf of support and the 0.8847 region worked very well as support - see chart. Right now the price action is heading for the 0.9312 target and above that 0.9370 max level as long as the bounce from the 10 week moving average has enough momentum this target should be realised to. This is above the mid point of a large marabozu candlestickTue, 20 Jan 2009 09:44:29 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-01-20.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-01-13.htmlEURGBP successfully down to the 0.9019 level and the 10 week moving average level where price is still clustering but with dips to the 10 week simple moving average working well thus far. Both targets from last weeks technical paper have been met and these levels are very important right now. The 10 week average has so far provided a shelf of support – see chart. Right now the most viable target is the 0.9312 level as long as the bounce from the 10 week moving average has enough momentumTue, 13 Jan 2009 09:38:06 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-01-13.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-01-06.htmlHappy New Year and best wishes for 2009! Lets hope it will be a prosperous one. EURGBP making huge progress over the final weeks of 2008, and it was only a matter of time before a correction that was well overdue would begin to take place. Right now the most viable target is the 0.9019 old resistance line which now becomes support and the potential near term target. Below that is the 10 week simple moving average that should also provide good support, at least first off. Technically there is aTue, 06 Jan 2009 09:09:29 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2009-01-06.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-12-16.htmlEUR/GBP another positive week closing at 0.8997, and surpassing the 0.8860 target. So what next? 0.9019 is the high from 12.11.1995, and resistance right now. This market is very bullish so to begin looking for a bearish reversal would be foolish, but corrections are probably likely right now. To the upside: 0.9115 and 0.9162 are viable targets on continued bullish activity but would like to see a substantial close beyond the 0.9019 level first – quite important right now as longTue, 16 Dec 2008 10:01:36 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-12-16.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-12-09.htmlEUR/GBP finished the week on a positive note at 0.8660. This was required for the momentum to remain positive. Overall the bias remains to the upside with a potential target at 0.8860 before major resistance. Right now, the 0.8670 region is the line in the sand. Above this and 0.8727 attracts and would need to hold above this for the target area. Filter with a good close above this area on at least two occasions. Below 0.8670 and the 0.8625 is support. Would be concerned down at thisTue, 09 Dec 2008 09:38:25 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-12-09.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-12-02.htmlEUR/GBP had a good bounce from the 0.8234 area seen as a potential downside target and area of opportunity (see last weeks chart for this), and with the 0.8550/60 area as the resistance level that also worked well. These two areas are of importance going forward and would need to see a weekly close above or below. 0.8533 as near term potential target. Only above 0.8620 on a good weekly close does the positive picture continue. Now the 0.8475 is a short term line in theTue, 02 Dec 2008 10:07:18 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-12-02.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-11-25.htmlEUR/GBP technically still positive going forward. The large marabozu candle on the weekly chart keeps the picture positive with marabozu retracement support still around the 0.8325 area. Right now prices look slightly negative with 0.8550 on the upside as a potential target but also a major resistance area to over come for any further upside activity. On the down side the areas to watch are 0.8420 and 0.8320. 0.8340 worked well as support last week and would see this as the line in the sand.Tue, 25 Nov 2008 10:47:37 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-11-25.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-11-18.htmlEUR/GBP finishing the week after a spectacular move and confirming the bullish triangle. So what next? Technically the cross is strong and holding above the 0.8160 area will maintain this stance. There is a marabozu candlestick now on the weekly chart which usually involves some retracement due to profit taking, so short term negative, but overall still positive. GBP has experienced a sharp decline and EUR/GBP will continue to benefit from Sterling weakness against other currencies (GBP/USDTue, 18 Nov 2008 08:57:29 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-11-18.htmlhttp://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-11-11.htmlEUR/GBP finished the week on a positive note engulfing the previous weeks session and creating a bullish engulfing pattern on the weekly candle chart. There has been a fresh high made so far this week and attempts above the highs confirming the bullish asymmetrical triangle break. GBP has experienced a sharp decline and until this is over this pair will continue to benefit from the Sterling weakness. Only a weekly close below the 30 week moving average currently at 0.7940 does the downsideTue, 11 Nov 2008 11:00:12 GMThttp://www.fxstreet.com/technical/forex-strategy/info@chart-workshop.de (Chart-Workshop)http://www.fxstreet.com/technical/forex-strategy/weekly-technical-chart/2008-11-11.html