EUR/GBP Forecast August 10, 2012, Technical Analysis

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The EUR/GBP pair fell during the session on Thursday as the British pound continues to impress. The Pound continues to fight back even though it is sold off against many currencies around the markets. One of the best examples is against the US dollar, where it simply won’t giv up.

Contrast this with the Euro, which is nothing but problems at this moment in time. This makes sense that this pair would continue lower, and as such we are more than willing to sell this market if we can break below the Thursday lows. We think eventually that we will head back down to the 0.7750 level, which were the previous lows. As for buying, we simply will not do it.

 

EUR/GBP Forecast August 10, 2012, Technical Analysis

EUR/GBP Forecast August 10, 2012, Technical Analysis

 

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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