EUR/GBP Supply & Demand Analysis August 2, 2011

We have a broken bullish channel successfully retested.
Area 0.8850-0.8880 provided a good supply zone which prevented further upside movement.
Now the pair is testing the demand zone 0.8720 - 0.8700, with its break it will target 0.8610 as the next obvious demand area.
If the current demand area limited the decline, this would bring the pair back to the supply area 0.8850-0.8880.

http://instaforex.com/forex_analysis/34938/?x=OUE