EUR/GBP Forecast August 3, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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EUR/GBP ended up falling for the session on Thursday, after first spiking, and then falling off of a cliff. At the end of the session we did get back a little bit of the losses, but not enough to in the day positively.

We're still within the confines of what we identified as a potential bearish flag, and as such we are only looking to sell this pair. If this flag gets broken down to the downside, we could see a move down to the 0.75 level as indicated by the length of the pole. We will not buy the Euro under any circumstances now, and as such are simply looking for selling opportunities on weakness.

 

EUR/GBP Forecast August 3, 2012, Technical Analysis

EUR/GBP Forecast August 3, 2012, Technical Analysis

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