August 2, 2011
EURGBP Carves A Base The EURGBP has managed to base at 0.8730 with a spike low at 0.8705. Buyers look ripe to step in at these levels if we do not get an hourly close below 0.8700. A failure targets first 0.8850 with an ultimate target of 0.8900. A break below targets 0.8680 with an ultimate target of 0.8600. News this week will be key with construction PMI out later this morning and Bank of England on deck for Thursday.

EURGBP Carves A Base

The EURGBP has managed to base at 0.8730 with a spike low at 0.8705. Buyers look ripe to step in at these levels if we do not get an hourly close below 0.8700. A failure targets first 0.8850 with an ultimate target of 0.8900. A break below targets 0.8680 with an ultimate target of 0.8600. News this week will be key with construction PMI out later this morning and Bank of England on deck for Thursday.

12:35am  |   URL: http://fmfx.tumblr.com/post/8377294361/eurgbp-bases
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