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EUR/GBP Finds support

Posted on October 19, 2009 at 2:54 in Medium & Long Term Techs by César B. Leiceaga

Euro is considerably stronger against cable this morning. The rebound from 0,9100 has taken place near the 38,20 % Fib support and the 30 SMA on the daily chart.

With price action staying above the 30 SMA, all of Weinstein’s followers would consider this a buying opportunity for the pair.

Daily EUR/GBP

César B.Leiceaga

Tags: cable, eurgbp, eurgbp analysis, eurgbp technical analysis, euro, pound

6 Responses to “EUR/GBP Finds support”

on 19 Oct 2009 at 3:15 am1A-SOLTANI

DEAR CESAR

there are some doubt about resuming uptrend for EURGBP at this leveel.daily middle band BB was breaked and lower band and ema55 and exact fibo38% ,50% is at lower prices(0.9050 ,0.8940).

although we may have direct move up,for confirm need to break 0.93.

REGARD
on 19 Oct 2009 at 4:43 am2César B. Leiceaga

Dear A-Soltani,

It depends from were you measure your Fib move.Let`s what today’s close on the pair looks like…

Regards.
on 19 Oct 2009 at 6:10 am3Alan

Dear César:

Now EUR is losing its steam and the resistence of 1.496 is strong. And GBP has room to rise even though the fundament of UK is not good enough to support futher forward. Do you still think it will rise? I took long position but not sure.

thanks

Alan
on 19 Oct 2009 at 8:58 am4César B. Leiceaga

Dear Alan,

I’m placing my stops below 0,8950. I think that if you play this trade for the long term it can be a profitable one.

Regards.
on 22 Nov 2009 at 2:42 am5cash loans

I like what I see. keep it going
on 23 Nov 2009 at 3:33 am6César B. Leiceaga

Dear cash loans,

Thank you for your comment!I will keep it going, I love my work!

Best Regards.

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6 Responses to “EUR/GBP Finds support”