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Euro Pound – 4th March 2009

The euro pound continues it’s consolidation sideways, trading in an increasingly narrow range, which impossible to trade on an intra day basis, or even on a longer timeframe. As you can see all the moving averages have closed, to a very tight range, and almost into a horizontal line. The only good news from this is that the longer this pattern continues then the more explosive will be the breakeout when it occurs. The effect is rather like a tightening elastic band on a small model aeroplane – the tighter it is wound, then the more energy is released when it finally breaks free ( or is let go in the case of the model plane!) So once again we must be patient and wait for a signal in the daily or weekly charts.

All the $undamental newsnow available in the live currency news vides, and also in the economic calendar, along with a live news feed for breaking news. Rest assured as soon as I see any signals worth noting I will mention them here and advise you on Twitter as always, or alternaively check the live currency charts for the lateste prices.

The short term, medium term and long term are all sideways!