The euro continues to depreciate against the British Pound. The pair EUR/GBP is back below the upper band of its medium term bearish channel (purple lines). The pair has validated the breakout of the support at 0.79 and just made a pullback on this level. Without a return above 0.79, the bearish movement should pursuit towards 0.7850. However, in case of return above 0.7950, we will wait the breakout of 0.80 to advise long positions. Analysis published by Vincent, the 07/11/2012 at 9h30 GMT+2 Update the 07/18 - The pair EUR/GBP continues its bearish trend below the upper band of its bearish channel (purple lines). The pair is currently moving around the support at 0.7850. A pullback on 0.7880 or 0.79 seems possible. The breakout of 0.7850 will give a new sell signal. Follow us Update the 07/20 - The pair EUR/GBP has validated the breakout of the support at 0.7850, offering a new sell signal. The price is currently testing the next support at 0.78 and is moving close to the midline of its medium term bearish channel (purple lines). A pullback on 0.7850 stay possible but the breakout of 0.78 will give a new sell signal.

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