Wednesday, December 7, 2011

EURGBP Technical chart | 07-Dec-2011

 Below is the technical chart of EURGBP currency pair with Doda-Donchian indicator on H4 time frame.

EURGBP Technical chart
EURGBP Technical chart


The outlook of this currency pair is that it is trading near high resistance zone. Do, do not take any long position even if it is confirmed by Doda-Donchian and Doda-Bollinger bands. Take long position ONLY when it closes above 0.86032 and then @0.8621. Below these levels, the chart is in bearish mode and one should take only short positions as and when directed by Doda-Donchian signals.

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