EUR/GBP Forecast July 11, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The EUR/GBP pair fell during the session as the 0.79 level finally gave way. The shooting star from the previous session on Monday was your first hands that this was going to happen, and concerns about Italy creeping into the forefront certainly did not help the Euro’s case. The pair has recently broken a bearish flag, and it did suggest a move down to 0.76 or so. It is with this thesis that we continue to short this pair and are presently holding onto substantial positions at this moment. As for buying, there is absolutely no argument to be made for it until we can pop back above the 0.81 level. All rallies in this pair should more than likely end up being selling opportunities.

EUR/GBP Forecast July 11, 2012, Technical Analysis

EUR/GBP Forecast July 11, 2012, Technical Analysis

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