$EURGBP - valid medium term target is ~ 0.8

Tracking risk appetite across bipolar asset markets

MONDAY APRIL 1, 2013       13:40:00 GMT

Using some very simple TA metrics the current formation on $EURGBP suggests that if vital support around current levels is broken, the distance down from the top (indicated by the upper limit of the top arrow) when projected down from a violated neckline would bring us down towards (and perhaps just beyond) the 0.8 level.

[Click the graphic to enlarge]

This would be a feasible target during the next three to six months.

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