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EUR/GBP (a daily chart of which is shown) as of Monday (7/19/2010), has reflected the new week's sharp downmove in GBP/USD and milder upmove in EUR/USD by continuing last week's bullish momentum that broke out above 0.8400. By breaking out above the resistance confluence of the 0.8400 level ... For more EUR/GBP analysis, please click here.

 (Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.)

James Chen, CTA, CMT