Thursday, July 1, 2010

EURO GBP short term bottom or near?

Haven't looked at EURGBP for a while (due to personal circumstances been out for a while), but we broke down through 0.8455, but we have hit the lower descending trend line at around 0.8100 and bounced.  This looks like could be key, though we are still in a DOWN TREND, may be a warning that EURO may have a period of strength vs Pound (which ties in with the previous post on cable).

Obviously a clear break below 0.81 and we could test as low as 0.78

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