Chart of the Day - 9/16/2008 - EUR/GBP

From News Archive

9/16/2008 – EUR/GBP – Price on the key EUR/GBP cross (a daily chart of which is shown) has just made a pronounced bounce almost precisely off the significant uptrend support line that has been in place for at least a year now. This line is represented on the chart by the green line. From a technical perspective, this dip (or corrective pullback) to the uptrend line might have been expected, especially after price over-extended itself by hitting a decade-long historical high (around 0.8185) just a couple of weeks ago. Any continued upmove off the current trendline bounce should once again target strong resistance ... (full story)