The EURGBP has formed a Bullish 2 Bar reversal on the daily chart. This pair is showing very interesting signs on the daily chart. Price has sold off from the recent highs and now formed a reversal signal rejecting the low.
Price is trading back into an area that in the past has shown indiecision If price breaks this 2 bar and moves higher it will be very interesting to see if consolidation will occur again. If price can manage to gain momentum and move higher the near term resistance comes in where price found resistance last time at the recent swing high.
If price faile to move pass this indicision zone and move lower would see support come in around 0.8460 area.
EURGBP DAILY CHART – 12 FEB 2013
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