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EUR/GBP Rebound from solid support

Posted on October 22, 2009 at 3:54 in Uncategorized by César B. Leiceaga

The 0,8980 - 0,9000 area is a critical support region that can determine overall bias for the pair.

EUR/GBP has just tested the first significant resistance at 0,9070 and 0,9080 (200 SMA on 4 hour chart) offers a tough resistance level for euro bulls.  Keep an eye on these levels!

4 hour chart:

César B.Leiceaga

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

4 Responses to “EUR/GBP Rebound from solid support”

  1. on 22 Oct 2009 at 4:36 am1carlab

    Pues espero que aguante. Creo que podría bajar más rapido el cable que el eur/usd (espero que baje, tal ez sólo wisfull thinking), pero veo ya el inicio de lacorrección en bolsas. (4/5% S&P a 1040),y que eur/usd baje a 1.47 (61.8 de toda la subida). En cable corto a 1.64,creo debiera bajar a 1.6170.Ves posiblidad?

  2. on 22 Oct 2009 at 5:20 am2A.SOLTANI

    DEAR CESAR

    Tottaly I agree with critical level about 0.91, but I think there are more room for eurgbp to fall about 0.8940. my target @1.6590 for GBP reached and now its at T.L touch for further rally to 1.67.I take a buy position @6540 for 1.67.

    Also usdjpy reached target @91.50 touch daily BB upband & EMA55 is good opportunity for sell.
    REGARDS

  3. on 22 Oct 2009 at 8:15 am3César B. Leiceaga

    Hola Carlos,

    Si le veo posibilidad… aunque acaba de romper una directriz bajista importante que de momento no quiere decir nada, ya que puede sea una jugada para saltar stops y que se dé todo la vuelta.Desgraciadamente salí perdiendo de mi corto en GBP/USD. Pero ahora estoy largo en 0,9005 en EUR/GBP. Veamos como sale la jugada…

    Un saludo!

  4. on 22 Oct 2009 at 8:17 am4César B. Leiceaga

    Dear A-Soltani,

    Congrats for your good trades! I think that USD/JPY could go higher..

    Regards

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