FX.co ★ EUR/GBP Important support 0.8600, November 09, 2010

After breaking down so strongly, the pair euro - pound could find a support at price levels that are listed at this time and start an upward sequence, which could introduce the pair in a stalemate between levels 0.8600 to 0.8800. In this case, the closing session has a special significance since closing above the 0.8640 level is an indication of the power of support and also create a positive investment pattern with the figure of "hammer" of bullfighting. This alternative represents for us a sign for purchase starting point in accordance with the resistance level of 0.8740 to 0.8775.

A breakout below the 0.8600 support level, however, represents a sign of continuing casualties. If this option is fixated, you can take short position on the pair with distant starting point, which is significant in relation to low level and 0.8400 support 61% 8 fibonacci, extending to 0.8330 pounds sterling euro.