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EUR/GBP - Challenging key resistance at 0.8169
• EUR/GBP has broken its declining trendline and its resistance at 0.8115. Monitor the key horizontal resistance at 0.8169. An hourly support is at 0.8108 (intraday low). • We see the rise from 0.7755 as a countertrend move within a long-term downtrend. We need to see a break of the strong resistance area between 0.8115 (14/09/2012 high) and 0.8169 to negate this view. • EUR/USD rose yesterday but failed to break its hourly resistance at 1.3077 (19/10/2012 high). A test of the support area between 1.3016 (intraday low) and 1.2991 (09/10/2012 high) is likely. We keep a bullish bias given the bullish breakout out ... (full story)