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  Symbol Bid Ask
EURUSD 1.2837 1.284
GBPUSD 1.5167 1.517
USDJPY 103.23 103.26
USDCHF 0.9725 0.9728
USDCAD 1.0279 1.0282
EURJPY 132.5 132.53
EURCHF 1.2481 1.2486
GBPJPY 156.5 156.57
GBPCHF 1.4749 1.4756
GOLD 1359.37 1359.97

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Research: Eur/gbp - Trading Strategy, Trigger Points, and Support and Resistance Levels


RBS has given the following trading strategy, trigger points, and support and resistance levels:

TRADING STRATEGY: Move stops to 0.8360 (above the 0.8352 level) target 0.8192 onto 0.8069.

TRIGGER POINTS:

0.8500 - Big important long term resistance level, 61.8% retracement from the '08 credit crunch rally 

0.8223 - Downside important potentially supportive resistance level.                 

0.8315 & 0.8335 - the previous intraday support levels now should turn resistance 

SUPPORT LEVELS: 0.8223, 0.8192, 0.8069

RESISTANCE LEVELS: 0.8280, 0.8315, 0.8372

-The 'doji' pattern on Friday as well as the good follow through this morning leads me (analyst) to believe that we could see some corrective price action in the opening part of the week back to the important break down zone between 0.8280 and 0.8315. This represents good shorting opportunities on a stop loss through 0.8352. The downside targets remain the previous low at 0.8223 onto the important retracement level at 0.8192.  

Published: 2012-04-10 11:03:00 UTC+00


See also: Current support and resistance levels
EUR/USD
GBP/USD
USD/JPY
GBP/JPY
EUR/CHF
AUD/USD
May 18 at 17:37 UTC
 
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