First of all, thanks for your continued support to this blog. It is comments and visits by you guys that acts as a tonic and makes it worth the effort to post all these information.
Anyway, coming back to trading, attached is a 1H chart for EURGBP. I have marked bar A and this is the same control bar which we discussed yesterday. I had pointed out in my article that a break of that low will lead to an upmove to 0.8800 and the low did break and we had a high of aboput 8796. Not bad. I believe that the upmove will still continue but 8795-8805 should prove a crucial hurdle.
I have marked the next control bar B. You can see that the high of A is almost the same as low of B and both of them come in around 8805 and this would mean that 8805 region should prove a strong hurdle. It will take its time but i think the hurdle will be crossed.
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