EURGBP - Breaks below the 200 day moving average

Today EURGBP has traded below the 200 day moving average for the first time since last October. According to my own studies this is occurring at the same time as a volatility breakout. As returning readers will know this is a trade that I like both technically and fundamentally. Technically the pair has become over extended on the top side and the fundamentals are much the same as when I first wrote about the pair in the past, so please refer to:

-http://you-buy-the-high-i-sell-the-low.blogspot.com/2008/12/from-sweats-to-shivers-eurgbp-one-to.html, or

-http://you-buy-the-high-i-sell-the-low.blogspot.com/2009/01/eurgbp-weakness-likely-to-continue.html, or

-http://you-buy-the-high-i-sell-the-low.blogspot.com/2009/01/eurgbp-potential-lower-high-in-place-at.html, or

-http://you-buy-the-high-i-sell-the-low.blogspot.com/2009/02/eurgbp-update-and-trading.html

That's right I'm a bear! In the chart above I have detailed some targets. I would suggest getting short around .8723 the recent low that was broken today with a stop over .8790, for the short term players otherwise a stop over .8870 for those looking to blow the lights out. Its always nice to blow the lights out!