EUR/GBP In Range Yet Looks Bearish

Doug Rosen

By: Doug Rosen

I will begin my analysis with the daily timeframe.  Once again price begins its day at the 61.8 fib level around .8609  Price is also in a bit of a range between .8595 and .8620 

 EUR/GBP 1hour Analysis, November 25, 2011

Price action seems to be closer to resistance levels than to support so I would watch for price to fall. 

 EUR/GBP 30min Analysis, November 25, 2011

On the 4 hour timeframe price is just under the 38.2 fib level and the 144 ema around .8616 

 EUR/GBP 15min Analysis, November 25, 2011

On the 1 hour timeframe the ema's are bunched together and narrow Bollinger bands so there is lower than usual volatility in the market probably due to the American Thanks Giving holiday.
 

Doug Rosen
Doug Rosen is a Florida-based Forex trader who became a skilled technical trader through 3 years of intense practice and self-teaching. He now coaches a live trading room and analyzes the market on forextradeplans.com.

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