EURGBP: Has breached the support level at 0.8838 and is likely to test 0.8726 and then the Feb low at 0.8637. Beyond the short term we could be seeing the formation of a double top pattern with a neckline at 0.8637. A weekly close below there would suggest a move down to 0.7785 in the long term with interim
support at 0.8367.
GBPUSD: GBPUSD has now breached the 1.50 resistance area and a sustained move above there is quite bullish. The next decent resistance is 1.5374 followed by 1.5724
EURGBP – Approaching support and looking weak
GBPUSD – Approaching important resistance
Linear Mode
