Forex - EUR/GBP Technical Analysis (Euro / British Pound)

Sentiment : 0.81 0.8050
The pair EUR/GBP is moving since the beginning of June above the upper band of its medium terme bearish channel (purple lines). We are neutral between 0.8050 and 0.81.

Below 0.8050, we anticipate a pursuit of the bearish movement towards 0.80. If this support is broken, a new sell signal will be given and 0.7950 should be reach.

Above 0.81, a test of the resistance at 0.8150 is expected. If this level is broke, a new buy signal will be given and the bullish movement should pursuit towards 0.82.

Analysis published by Vincent, the 06/29/2012 at 9h30 GMT+2

Update : 03/07 : An exit from the neutral zone occured yesterday on the pair EUR/GBP. The British Pound should continue its movement against the Euro with a first objective at 0.80. The pair is still moving above the upper band of its medium term bearish channel (purple lines). If 0.80 is broke,, a new sell signal will be given and will open the way towards 0.7950. A pullback on 0.8050 stay possible but if the price got back above this level, we will be again neutral, waiting for a new exit of the zone 0.8050/0.81.

Complete sheet of the pair EUR/GBP - Previous EUR/GBP Analysis

Chart of the pair EUR/GBP - Timeframe 4H - Zoom in :

Chart of the pair EUR/GBP - Timeframe 4H - Zoom out:

EUR/GBP Live Chart - Timeframe : 4h