EUR/GBP Weekly Outlook

Mar 6 2010

EUR/GBP spiked higher to 0.9137 last week but formed a short term top there and pulled back since then. Initial bias remains mildly on the downside this week and deeper fall could be seen to 4 hours 55 EMA (now at 0.8963). But downside should be contained by 38.2% retracement...