Monday, June 22, 2009

Intraday Signal for EURGBP



Attached is the 4H chart for EURGBP. As can be seen, there is a huge pin bar on this chart. The location is also good as the pin bar is off an area of previous support and also there has been a strong MM level at 0.8423.

Already, this bullish pin bar has yielded about 50 pips but it looks good for more after some minor retracement.

The next chart is the 1H chart which seems to throw a spanner in the works as you can see a very high volume bar taking the price to 0.8477 but the bar finishes in the middle and the high of this bar has not been broken yet. A break of this will lead to more upside on this pair.

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