EUR/GBP - Euro British Pound, European Session - 22/04/09

  @ibtimes on

0,8838. EUR GBP is in an downtrend directed by 4H exponential moving averages. EUR GBP is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR GBP. The price should find a resistance below 0,8850 (12 pips). The downtrend should continue to gather momentum.

Resistances
0,8850 - 0,8875
Supports
0,8810 - 0,8790

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