EURGBP—hovering just above .9000

Friday's short at .9028 stopped at breakeven. It since dropped a bit but was caught on a short-term uptrend line (best seen on the hourly chart) at .8998. A bounce is possible up to .9031 or possibly .9056/64. Will probably wait and look at shorting at those levels. If it broke decisively below .8973, that would also be a potential short. On the weekly chart the pair is coiling between .8663 and .9310 but I'd expect it would drop lower in that range before it went higher.

Support is at .8973, .8956, .8920, and .8867. Resistance is at .9032, .9065, .9083 and .9100.

Here's the one-hour chart:























© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

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