novvoll12
Long

EURGBP bullish – Bullish weekly reversal points higher

FX:EURGBP   Euro / British Pound
26 0 2
EURGBP             0.7401 – bullishBullish weekly reversal points higher

EURGBP             reversed strongly off the .7195 low (September 22, 2015) to test the .7421 range high (August 24, 2105) and the 50 week moving average currently at .7402. Bullish momentum suggests there is scope for further upside. A clean break through .7421 would confirm a higher base over .7195 and accelerate gains towards .7482 (May 4, 2015 high) near 50% of the .8038/.6930f fall.
The .7195 area should support dips medium term.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: neutral
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