Special Focus EURGBP 10 01 11

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EURGBP- The cross continues to maintain its downside vulnerability selling off sharply at the end of week and opening the door for further weakness towards the 0.8530 level, its Sept’2011 low.

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Slide 1:

1 Saturday , 01th of Oct, 2011 SPECIAL FOCUS EURGBP EURGBP: Downside Pressure Mounts On The 0.8530 Level. EURGBP- The cross continues to maintain its downside vulnerability selling off sharply at the end of week and opening the door for further weakness towards the 0.8530 level, its Sept’2011 low. EURGBP has been under pressure since tumbling off the 0.8792 level on Sept 23’2011 following its recovery failure. A decisive clearance of the 0.8530 level will resume its medium term weakness towards the 0.8460 level, its Mar’2011 low and then the 0.8355 level, its Feb’2011 low. Its daily and weekly RSI are bearish and pointing lower supporting this view. Alternatively, the cross may still be trading and holding within its established rising channel (weekly chart) but will have to convincingly break and hold above the 0.8794 level, its Sept 21’2011 high and the 0.8885 level, its Aug 10’2011 high to end its current bear threats and target the 0.9083 level, its Jun 01’2011 high. Further out, resistance comes in at the 0.9150 level, its Feb’2010 high. To read the full version of this 7 model currency analysis click here FXT Technical Strategist Plus FXTechstrategy Team info@fxtechstrategy.com www.FXTechstrategy.com The Ultimate Technical Research On Forex

Slide 2:

2 This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer

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