EURGBP TO RALLY AFTER 10 PERCENT DROP

EUR/GBP TO REVERSE DOWNTREND

From its peak of .8754 made on july 31 2013, the EURGBP has fallen 10 percent to its low of .7891 recorded on July 23. But according to InvesTRAC's short term model there is about to be a reversal. The daily chart below shows that the pair has encountered the lower parallel channel line ...not shown but RSI has an impressive divergence which supports the case for a rally. A push through .7926 will allow a rise which could easily test the upper declining parallel channel line...and should it reverse this trendline it is possible that strength could continue until September 2015.