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Pullbacks represent a...........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Pullbacks represent a correction to the uptrend:
*RES 4: 0.9092 High Jan 3 and major resistance
*RES 3: 0.9061 High Jan 11
*RES 2: 0.9000 Psychological round number
*RES 1: 0.8974 High Jun 18
*PRICE: 0.8884 @ 04:30 GMT June 19
*SUP 1: 0.8871 Low May 12
*SUP 2: 0.8861 20-day EMA and general key support area
*SUP 3: 0.8827 Low Jun 6
*SUP 4: 0.8779 200-DMA
EURGBP has pulled back from the highs this week resulting in trendline support
break. Momentum studies too have moved out of overbought territory. Whether this
all adds up to a developing bearish scenario is perhaps too early to tell. The
50D EMA intersects at 0.8861 and this area represents a support where bullish
interest should again develop. A failure to rebound off 0.8860 would reinforce
the bearish case. For now, pullbacks are seen to be corrective.
Foreign Exchange Technical AnalysisMarketsForeign Exchange News
Foreign Exchange Technical AnalysisMarketsForeign Exchange News

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