Wednesday, March 21, 2012

Forex pairs to observe-3.20.2012

Eur.Gbp

This pair has been trying to break through support levels for a while with little luck so far. At the moment this pair is firmly anchored on the upwards trendline that is coming off the daily. This pair did manage to make a new high today and is pointing bullish at the moment. If the bulls do indeed take control of this pair it has a fib target of 0.8398 which is very close to strong resistance levels, so proceed with caution after that point. Also keep in mind, Gbp has fundamentals coming out tomorrow that can really move this pair one way or another.

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