Dec 29, 2014 Daily Analysis EURGBP

EURGBP 1H

EURGBP

I just woke up and it looks like we are having some trouble breaking the support here @ 0.782. We are having a big mix of red and blue candles, having 12 candles following the pattern of one red one blue, one red one blue etc…

If we look at the green boxes on the right and left, the last time( left box) it approached the support in a pretty similar manner, but last time (left green box) it created 3 spikes in up and down directions and bought up with most of the candles being blue.

This time, however, it looks like we don’t have ‘as much’ of a bull strength as last time, not to say that bulls are going to give up either.

Price is holding 20EMA as resistance as of now and we are having a fight between bulls and bears. Obviously because there is a support close to 0.782.

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