Last analysis from November 27 gave earn 120 pips. I wrote about consolidation and possible target of upward movement at 0.7200. In fact that movement reached 50 pips higher and rebounded. In long term EURGBP moves in a downward trend and current rebound could be seen as an opportunity for short.
For the trend reversal the price should break above resistance at 0.7480 level. If the declines will be continue next supports are located at levels: 0.7155, 0.7125, 0.7060. If there will be another attack at the resistance on area 0.7250 which is more likely and it failed it will give an interesting investment opportunity.
Try FX GROW. Spread from 0.00001 also STP/ECN execution, full transparency.
Enter the game PIP WARS – live trading contest
