Another look of $EURGBP, the big picture 17 Oct 2010

Let's have a look at the weekly chart of $EURGBP. We have a pennant forming, with ABCD and Bullish Butterfly formations within. It is just so beautiful. I see two possibilities here. First, we might start to have correction right now with 88 level as immediate resistance. Second, we might have another leg and approach 89 nice to the top of the pennant. Personally, I prefer the second option. But it doesn't mean I am jumping in to Long EURGBP now.

I will be watching closely in daily and lower time frames for any possible signs of weakness.

What do you think?

Here is the CHART!

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John Adams — Trackback2010-10-16 18:15:05 UTC

Another look of $EURGBP, the big picture 17 Oct 2010: Lets have a look at the weekly chart of $EURGBP. We... http://bit.ly/buuPxw

Gav (Trader Gav) — Trackback2010-10-16 18:16:10 UTC

Another look of $EURGBP, the big picture 17 Oct 2010 http://bit.ly/bFGPut

Gav (Trader Gav) — Trackback2010-10-21 01:12:29 UTC

We are now at 89 level. Let's see if the weekly penant is going to be broken, or we are looking at short opportunity. http://bit.ly/bFGPut

Nicola2010-10-21 12:22:00 UTC

Once this was a very big weekly pennant. Now it is a giant weekly pennant. I like it :)

Easy Home Forex — Trackback2010-10-22 15:36:42 UTC

Another look of $EURGBP, the big picture 17 Oct 2010 | Gav's ...: Let's have a look at the weekly chart of $EURGBP... http://bit.ly/b6kHLh

Auto FX — Trackback2010-10-22 15:36:42 UTC

Another look of $EURGBP, the big picture 17 Oct 2010 | Gav's ...: Let's have a look at the weekly chart of $EURGBP... http://bit.ly/cTZyxY

Another look of $EURGBP, the big picture 17 Oct 2010

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