By
fxKnight |
Technical Analysis | Feb 07, 2011 02:50PM GMT |
The EUR/ GBP has been consolidating into a tight range with which Fibonacci projection levels are been respected as key buying and selling price levels.
While the pair is currently in the consolidation range it is unclear as to which direction the pair will breakout in.
Shorter term key levels to watch to the downside where buyers are entering the market at strong support are at the following at 0.8380, 0.8284 and 0.8097
Shorter term key levels where sellers are coming into the market producing strong resistance levels are at 0.8593, 0.8718 and 0.8789.
Please see the attached chart below...
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