Tuesday, July 05, 2011

EURGBP waves observed equal AB = CD

EURGBP waves observed equal AB = CD in the graph of four hours of crossing between the euro and the pound sterling could give us a short interesting entry for the British currency. It would appear that the exhaustion of the last pulse of the euro to play the pips 0.9065 resistance, paves the way to the pound, which will seek the support of 0.8966 points, 50 of Fibo wave CD.

However, a break of 0.9065 resistance will invalidate the pattern pips and would lead to euro levels of 0.9141 to search, maximum unseen since the first quarter last year.

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