Bearish price action in the last several days on EUR/GBP, a daily chart of which is shown, has brought the pair down to test and tentatively break key 0.8800 support as of Tuesday (5/19/2009) morning. Continued bearishness on this move should quickly target further support in the 0.8660 price region. Major upside resistance resides in the important 0.9000 region.
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4 Responses to “EUR/GBP - Testing/Breaking Support”
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the support will not be broke, i bet on it :)) there is no economic reason for that, especially after last week economics news.
Thanks, Maxu! We’ll see how it plays out. Your analysis is always welcomed!
James Chen
i was right :)) thx for your excellent and always on time analysis
Nice call, Maxu!!!
James Chen