EUR/GBP Forecast October 17, 2012, Technical Analysis

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The EUR/GBP pair rose during the session on Tuesday as the Euro got a bid against just about everything. However, we are currently just under the 0.8150 level, and this of course is an area that starts significant resistance. In fact, we do not get bullish of this pair until we are well above the 0.82 handle.

The British pound looks very strong, and as such it is a bit difficult to short it against anything, even the Euro that seems to be getting such a large boost market wide. Having said that, the charts do say buy at this point in time, and we would do so above the 0.82 handle.

 

EUR/GBP Forecast October 17, 2012, Technical Analysis

EUR/GBP Forecast October 17, 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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