EUR/GBP is an Unstoppable Bull

by Admin

EUR/GBP Daily chart 9:10AM EST 2/25/2013

EURGBP

Bullish trend continuation: EUR/GBP has been bullish since July 2012. The bull trend was flatter during the Sept-Jan months, but started to pick up early January. As we get into the end of February, the bullish trend remains intact and appears to still have steam.

The moving averages are in bullish alignment and spreading apart. The RSI has tagged 70 and held above 40. There is an Oct. 2011 resistance pivot at 0.8831. Above that, we have the 0.90 handle, and the 0.9082 2011-high to anticipate resistance.