EUR/GBP found strong resistance at the magical 0.95 line, and slipped downwards. It doesn’t have much room to move due to uptrend support. This week’s high volatility should push it over the top – breaking resistance on the road to parity. EUR/GBP traded this week in a 250 pips range, from 0.9420 to 0.9170. In the previous week, EUR/GBP found strong resistance at the 0.95 line, which was the high point in January 26th. This downwards slip happened as the Euro showed weakness, and the Pound remained strong without any reason. Since EUR/GBP broke the downtrend resistance it moved nicely forward, until meeting this strong resistance, which proved very strong. Now, as the graph shows, there’s another line – below EUR/GBP. This uptrend support was formed from the lows of mid October, formed in mid February and successfully passed tests at the end of February and the end of March. This uptrend support is climbing steadily, and currently stands at 0.9050. The flat resistance line, and the uptrend support meet only in May, but volatility is strong. EUR/GBP was once a currency that traded in very small ranges, as the Euro and the British Pound moved very similarly against the US dollar. Since October, this trend changed, and this cross goes wild. This week’s events, with the G20 summit, rate decision by the ECB and lots of British figures provide lots of opportunities for the EUR/GBP to shake. I continue to stress that the British Pound should go down, and that Europe has a much healthier economy. Upcoming Non Farm Payrolls in the US also supply fuel to the markets, even though they don’t directly affect this pair. Check out the Forex Weekly Outlook. EUR/GBP Parity was near at the beginning of the year, and I do believe that now, at the end of the first quarter, it can get close to it again, breaking resistance and pushing forward. I like the EUR/GBP cross, and I’ll follow it closely in the upcoming week. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next Forex Daily Outlook – March 30th 2009 Yohay Elam 13 years EUR/GBP found strong resistance at the magical 0.95 line, and slipped downwards. It doesn't have much room to move due to uptrend support. This week's high volatility should push it over the top - breaking resistance on the road to parity. EUR/GBP traded this week in a 250 pips range, from 0.9420 to 0.9170. In the previous week, EUR/GBP found strong resistance at the 0.95 line, which was the high point in January 26th. This downwards slip happened as the Euro showed weakness, and the Pound remained strong without any reason. Since EUR/GBP broke the downtrend resistance it moved… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.