Currently, $eurgbp is contained within a bearish channel on a 15min. chart. Concern still lingers for the state of the Eurozone community- France being the latest to possibly be downgraded from its AAA rating. However, toward the end of the year, along with holiday breaks, a selloff of the Euro may be on standby until January. Until price action exits this channel, long opportunities are muted. .8400 poses first resistance; .8450 next.Tuesday, December 20, 2011
$EURGBP BEARISH CHANNEL
Currently, $eurgbp is contained within a bearish channel on a 15min. chart. Concern still lingers for the state of the Eurozone community- France being the latest to possibly be downgraded from its AAA rating. However, toward the end of the year, along with holiday breaks, a selloff of the Euro may be on standby until January. Until price action exits this channel, long opportunities are muted. .8400 poses first resistance; .8450 next.
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