Sasha Singh
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EURGBP : Testing Key Resistance Area

EURGBP today posted some gains as pound showed some significant correction. The pair was earlier trading within a downward sloping channel. It broke out from the resistance trend line of the channel today soaring up to the key resistance level at .8308. The pair previously made various attempts to break this resistance level but all of them failed. So may be pair again come back from this level towards the support level at .8291. Stochastic oscillator is also showing that the pair is currently in the overbought zone and might fall again.However of it breaks this resistance it may go up to .8326.