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Slumdog Forex - Daily Forex Analysis

EUR/GBP Going Up - August 3, 2012

EUR/GBP has been creeping ardently within a climbing channel for the past couple of weeks. Following testing the top of the channel a couple of times, the pair made a sharp drop to the bottom but underpin still kept similar to a skipper. At the same time, stochastic made its direction out of the oversold district, recommending that euro bulls might begin taking the pair higher. Unless the base of the channel gives way, EUR/GBP would be able to be headed to test the top of the channel again.

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