EURGBP is trading in the long term down side moving
channel and from November. 2008 higher trend line is tested and reversal was
seen in price and on lower side support trend line was failing to cross for
down trend and buying pressure was seen at lower level. The trading range was
wide enough in the range of 1200 points and in recent one year from February
2013 the range has been narrow by just 400 points. It is just near the lower
trend line of the short term down side falling channel where the support is
seen at 0.8220 and sustain below the same will confirm the down trend to continue
and will move to test the lower trend line at 0.7400 in medium to long term.
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