EURGBP - Consolidating for a break out

FX:EURGBP   Euro Fx/British Pound
131 0 4
Price could break out either way.. To the upside the minimum target is 0.800 and to the downside we're looking at 0.7925. Considering that the consolidation is coming in after a few bearish bars, my bias is to the downside. Both the break out targets however seem to show confluence with a short term support/resistance levels.

Considering that the minimum targets are close, we could expect a retest back to the break out zone which should offer a good/safer entry.

Keep this one on the watchlist.
Professional market analyst with a keen interest on futures. Love keeping an eye on the markets. Currencies, bonds, commodities. Combining technical analysis and the fundamentals. Contact me for more details.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out