Daily Technical Stategist EURGBP 27 09 11

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Tuesday, 27th of Sept, 2011
DAILY TECHNICAL STRATEGIST EURGBP
FXTechstrategy Team
info_at_fxtechstrategy.com
EURGBP Remains Vulnerable on Corrective Weakness
. EURGBP- Vulnerability remains after capping
its recovery at the 0.8792 level on Sept 232011
and tumbling lower. This leaves EURGBP targeting
the 0.8530 level. A decisive break below the
0.8530 level, its Sept 122011 low will open the
door for further weakness towards the 0.8460
level, its Mar2011 low and then the 0.8355
level, its Feb2011 low. Its daily RSI is bearish
and pointing lower supporting this view. EURGBP
may be retaining upside bias within its rising
channel but will have to convincingly break and
hold above the 0.8881/5 levels to target the
0.9083 level, its Jun 012011 high. Further out,
resistance lies at the 0.9150 level, its Feb2010
high and then its channel top at 0.9230. All in
all, the cross continues to face downside
risk. To read the full version of this 7 model
currency analysis click here FXT Technical
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