EURGBP

My short entry based on the first touch is at 8627. Thats where i have the trend line currently at. I hope it goes back up to that level as it got close at 8606 today.

Did you take it Remo, passed 8625 this morning

I'm long on this now due to the downtrend breakout:



dl.dropbox.com/u/20815047/EURGBPdaily01_02_13.gif

Euro looking strong against everything now.

Jackozy wrote: Euro looking strong against everything now.

I read an article recently suggesting parity between EUR:GBP. Maybe a tad far fetched, but there was a good T/A article supporting the theory (still trying to find it!)

But! here's another take, which suggests that the Techincals favour GBP, citing the 0.87 as a strong barrier.

www.forexspace.com/forex-insights/2212/e...parity-with-sterling


(Not T/A but...) Former PM Harold Wilson did once say "It does not mean that the pound here in Britain, in your pocket or purse or in your bank, has been devalued." - before acting to devalue it further. I wonder if Sir Mervyn King will "sign off" in similar style to Trichet (the latter did it with a rate cut, the former could do it with another easing mechanism).

Found the article mentioned earlier, supporting the theory of EURGBP Parity (citing a Rising 2006 Price Channel).

A couple of weeks old, but still worth a read:

tradingresearchpoint.co.uk/2013/01/18/eu...rity-on-the-horizon/

(including chart from article on here to give an idea of what's been discussed)