EURGBP—weekly

The low of the doji from the week ending Dec. 3 (.8334) must hold or the pair is definitely on its way down. Below that is support at .8204, .8068 and .7856. Note on the weekly chart below how steep the angle of descent is—it's not likely that will continue without some sort of correction upwards. If it does reverse upwards, resistance is at .8514, .8549, and .8598.

Here's the weekly 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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