(0,8213) EUR/GBP confirmed a strong closing well above the resistance of the positive outside day at 0,8175 suggesting a firm test of the key level at 0,8228; a daily closing also above this level will open the way for a more important rally toward 0,8280/0,8300 at least. The indicators of the daily chart have now turned positive supporting further strength and also those of the s/t charts are in positive territory supporting higher level. In the hourly chart we have however overbought conditions and potential negative reversals with however a weak downside potential!! Only a return below 0,8200 will postpone further strength favouring a correction that should however find support already at 0,8180!! We would like to sell but prefer remain on the sideline.
Click here to read the full report: EURGBP 01.11
Future Trend Research