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Aug 13

TECHNICAL ANALYSIS BY NSFX 13.08.2013

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Area 0.88, the 2013 top, likely will remain a barrier for this pair because it seems that the British Pound is gaining momentum against the EUR.  The  21 period SMA has a negative slope and in the next trading session might cross the 55 EMA.  0.8470 is not only a short term target but it is also the area where the trendline that started on July 2012 can be tested and if broken,  profit takers and short sellers can push the price down to 0.82

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