eurgbp-hourly-13-mar-09

The EUR/GBP has had a great run up this past few days but to me it looks as though it is getting a little tired and may be looking to pullback to the 0.9080 level. If we fail to set a new high above 0.9330 tonight it would add further strength to my case for a move lower.

I am not expecting it to be a long lived move lower with a 0.9000/0.9300 range for the next few days. Given the risk reward payoff i think it is worth selling something small at 0.9280 with a stop above 0.9330 with an initial target of 0.9100.