0.8457 holds the 200 wma and we’ve been up to 0.8455. We also have the 100 dma, weekly resistance and the 55 wma at 0.8460, 0.8462 & 0.8469, so there’s plenty of tech in the way if the pair wants to push higher.
EUR/GBP weekly charts 16 12 2013
Our unknown US friend is edging up towards his profit target at 0.8548 after taking a long last week. Meanwhile I’ve added to my shorts at 0.8450 and am happy to build up to 0.8600 before reassessing. I’m still in favour of the UK outperforming the rest of Europe in the short term and even a pick up in euro fortunes is likely to benefit us also.
