Chart of EUR/GBP 9.4.2014
Topic: Chart of EUR/GBP 9.4.2014
I talked last week regarding what can be the formation of a draw back flag pattern on the daily chart. The pattern later on went on for to a small degree bit too long to represent a flag, however there has been a key move to the draw back that ought to currently induce additional Sterling strength. A 2 week of consolidation on the intraday chart was broken yesterday as Sterling strong to tug Euro/Sterling below the key support at £0.8240. This draw back break means there's associate degree implicit target of a move to £0.8180, which might coincide with a retest of the late February low at £0.8182.