€$ Back on the RL

Heads-Up..... Could go down through 1.3220 and the DX back to 80.80 where resistance again supplied by a RL..see previous posts
PS: the RL grid in the second chart is of little use (due to object shift) when viewed in 60min TF but does show the RL from the weekly chart and the numerous tests that price has made on it recently.


Lastly, have you thought about GBPUSD recently? I rarely post my charts on this pair but the current EuroZone debt crisis has huge implications for the UK banking sector and the UK economy as #1 trading partner. The daily GBPUSD chart has an significant area of potential resistance (high TF RL's) approaching and it is my view that 2011 will see considerable pressure on Sterling as the conclusions of the far from unresolved Eurozone crisis become apparent. In depth Cable charts in multiple TF's to follow over the coming Holiday period. Lastly, how will this reflect on the US$.......Will folk still want to beat it with a stick? I suggest not. I would consider short positions at levels above 1.5500 and any higher rallies.