Friday, January 9, 2009

EURGBP


EUR/GBP has made a great run to the bullish side over the last few weeks. However, we recently experienced a drastic pull back. Taking a close look at the pairs mid term support level we see a Doji formed at the level of support on the 8hr chart, which is a sign that a potential reversal will occur next week. In addition the chart seemed to find itself forming a the Doji on support and a 61.8% retracement, which is another great sign of a potential reversal next week.

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