EUR/GBP Immediate Resistance At .7830/35
Jason Sen | Dec 22, 2014 07:38AM ET
EURGBP immediate resistance at 7830/35 is key to direction today. Failure to get back above here re-targets 7810/05 but the outlook is negative so a break lower could be expected & targets November lows at 7795. If this does not hold the downside we risk a retest of September/October lows at 7761/58.
Only above 7830/35 is less negative for today & opens the door to a test of resistance at 7855/60. Try shorts with stops above 7870. If the pair unexpectedly continue higher look for 7895, perhaps as far as a selling opportunity at 7905/10. Try shorts with stops above 7930.
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