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EURGBP How High?

by Ashraf Laidi
Feb 12, 2009 12:30

EURGBP How High? - EURGBP Feb 12 (Chart 1)

EURGBP enters 4th consecutive daily gain supported by a bullish moving average cross-over as the 5-day MA regains the 10-day MA on its way to cross above 15-day MA, nearing interim pressure at 0.9130, but more challenging obstacles stand at 0.92 and 0.9350. Friday's release of German and Eurozone Q1 GDP may slowdown the pace of gains in event of weak report but GBP fundamentals warrant continued paring of recent EURGBP losses. TL support remains intact at 0.88.

 

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