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Bullish Formation Developing....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bullish Formation
Developing EURGBP is developing a bullish formation on daily charts, suggesting
a continuation of the major uptrend. A re-test of the recent highs at 0.8958 and
major resistance at 0.8968 is now expected. A further break above here will open
upside potential towards the upper end of the major ascending channel, where the
trendline resistance intervenes at the 0.8990 level. On the downside, bears need
to break back below the bottom of the near-term ascending channel, which comes
in at 0.8880, to shift the short-term outlook back to neutral, and a close below
0.8855 to turn the outlook bearish.

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