Wednesday, March 25, 2009

Eur-Gbp shorts can be established

Eur-Gbp hourly chart - shorts can now be established against support turned resistance

Short positions can be taken with appropriate stop of 40-50 pips. Price action faces resistance from
two angles. Previous channel support should now act as resistance. Further, swing low support level (marked with green line) seen a few days back should too put pressure.