Sentiment : 0.79 0.79
The pair EUR/GBP has well continued its bullish movement after the buy signal given by the breakout of 0.79. Currently, the price is testing the next resistance at 0.7950. This level is important on the medium term. It matches with highs of August 6th.
We continue to advise long positions as far as 0.79 is support. IN h1, the price is still moving into a bullish channel. The breakout of 0.7950 will give a new buy signal and will open the way towards 0.7985 and 0.80. These levels are also important and correspond to the start of the bearish rally this summer.
In case of return below 0.79, we will then advise to trade short positions for a return on 0.7850.
Analysis published by Bruno, the 08/29/2012 at 09h15 GMT+2
Chart of the pair EUR/GBP - Timeframe 1H
Chart of the pair EUR/GBP - Timeframe 4H