EURGBP: Builds On Recovery Gains. EURGBP- After reversing its intra day losses to close higher on Tuesday and following through higher today, further bull pressure is now building up on its May 09’2011 high at 0.8817. Guest post by www.fxtechstrategy.com A break and hold above there will bring the 0.8896 level, its May 05’2011 high and ultimately the 0.9040 level, its year-to-date high. Its daily momentum indicators are bullish and pointing higher suggesting further gains. Alternatively, the risk to our upside view will be a return below the 0.8653 level, its Mar 23’2011 high with a violation of that level turning focus to the 0.8532 level and probably the 0.8500 level, its psycho level. A halt in weakness is expected at that level to turn EURGBP higher if tested. EURUSD: In Recovery Mode But Vulnerable EURUSD: Attempts at building on recovery gains continue to be seen but with alot of price hesitation. Additionally, as long as the 1.4339 level, its May 13’2011 high and the 1.4422 level, its May 11’2011 hold as resistance levels, our bias remains lower. On the downside, below the 1.4046 level, its May 16’2011 low will reverse its present recovery attempt and turn risk towards the 1.4020/00 levels, its mar 28’2011 low/psycho level. A combination of these levels should halt declines if seen and turn the pair back up. Further down, the 1.3852 level comes in as the next downside target. Alternatively, on a violation of 1.4339 level and the 1.4422 level, further strength should build up towards its May 06’2011 high at 1.4586 and ultimately the 1.4938 level, its 2011 high. All in all, though attempting a recovery, it remains vulnerable to the downside nearer term. 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 ForexStreet.net Gains Traction – Becomes Serious Player in Forex Yohay Elam 12 years EURGBP: Builds On Recovery Gains. EURGBP- After reversing its intra day losses to close higher on Tuesday and following through higher today, further bull pressure is now building up on its May 09'2011 high at 0.8817. Guest post by www.fxtechstrategy.com A break and hold above there will bring the 0.8896 level, its May 05'2011 high and ultimately the 0.9040 level, its year-to-date high. Its daily momentum indicators are bullish and pointing higher suggesting further gains. Alternatively, the risk to our upside view will be a return below the 0.8653 level, its Mar 23'2011 high with a violation of that… Regulated 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.