Forex Trading: EUR/GBP Breaks To The Upside

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Forex Trading: EUR/GBP Breaks To The Upside

By Greg Michalowski on March 11, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

eurgbp-dayclose

We see here that Eur/Gbp broke out of the descending trendline and showing signs that it might retest the highs. One of two things might happen, the Eur/Gbp might retrace back to that line and find support then rally higher or it might just continue to trade higher with a small resistance at 0.9470-0.9500. This is also a signal to go long Eur/Usd because it will be supported by this pair.

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