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EURGBP: Descending Trend testing its Potential.

FX:EURGBP   Euro / British Pound
EURGBP rise of an upward support line for a week can not be seen as an sign of its strength because the pair's movements from 0,8635 to 0.8500 are contained by the almost 8 week old descending triangle formation. This means that a dip of the pair under 0.8590 can drag it to 0.8500 with an intermediate stop of 0.8560 and 0.8525. If the downside after 0.8525 is further, 0.8470 and 0.8430 will probably be shown following numbers on the graph. If prices manage to win resistance to 0.8635, short-term customers may be entertained by 0.8665/70 and 0.8700 before being driven to 0.8730/ 40 and to 0.8790. In view of the predominant feeling of bulls above 0.8790, 0.8840.