Updated the:
08/27/2012
 EUR/GBP : Still moving on the upper band of its bearish channel
Sentiment :
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0.7884
"sentiment
0.7884
"sentiment
The pair EUR/GBP continues to move on the upper band of its medium term bearish channel (purple lines).

We advise to traders to trade the pair according to the key level at 0.79:

- Only short positions below 0.79. At this moment, if the price stay below 0.7875, that will comfort our bearish feeling. The breakouts of 0.7850 and 0.7825 will both give a new sell signal and will open the way towards 0.78.

- Only long positions above 0.79. The breakouts of 0.7925 and 0.7950 will both give a new buy signal.

Analysis published by Vincent, the 08/20/2012 at 10h00 GMT+2

Updated the 08/27 - The pair EUR/GBP took support last week on the upper band of its medium term bearish channel (purple lines). Then, the breakout of 0.79 gave us a buy signal. Currently, the price is testing a pullback on this level as support.

In h1, a bullish channel seems to lead the movement and go for a pursuit of the bullish movement. We continue to advise long positions as far as 0.7884 is support. The breakout of 0.7925 will give a new buy signal and will open the way towards 0.7950.

In case of return below 0.7884, a sell signal will be given. We will then advise to trade only short positions.

Complete sheet of the pair EUR/GBP - Previous EUR/GBP Analysis
Chart of the pair EUR/GBP - Timeframe 1H
"EUR/GBP
 
Chart of the pair EUR/GBP - Timeframe 4H
"EUR/GBP