The June 2006 support line at 0.7350 looks like it's finally cracked and is already showing as resistance on the hourly chart
EUR/GBP hourly chart
Unfortunately my learned colleague from the colonies may have to wait a bit longer for his 500 pips as we have the 2000 61.8 fib at 0.7255, which also looks a fairly strong former resistance point in 2003.
EUR/GBP monthly chart
We shan't pick holes in his analysis as he's making the step up from his minor currency, the CAD into the big league players, like the pound ;-)
We both agree that the break is on and the 0.7350 is a place to look at fresh shorts, or adding, with a stop somewhere just north of 0.7400/20. We've still got the Greek mess to deal with so that's the main risk but technically, we could have jumped out of the plane
