EURGBP closes below trendline; bearish bias still weak

EURGBP closes below trendline; bearish bias still weak

From xm.com

EURGBP slipped below the 20-day simple moving average (SMA) on Tuesday and closed marginally below the ascending trendline that has been strictly supporting the market since the sharp rebound in mid-February. Another negative close below that line could strengthen warnings that the weakness in the price may persist, confirming the somewhat discouraging signal the falling RSI is currently providing. To the downside, the 50-day SMA and the lower Bollinger band, both around 0.8930, may prove to be game changers if they immediately reject additional declines. Otherwise, the sell-off may continue until the 0.8865 key ... (full story)

Not bad, first time i see some tech analysis telling something important here...this likely gonna collapse soon...took 2 positions earlier...lets see

Attached Image (click to enlarge)

Attached Image (click to enlarge)

I believe that the downward trend will be confirmed below 0.8907

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