EUR/GBP Forecast October 18, 2012, Technical Analysis

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The EUR/GBP pair rose during the session on Wednesday as the 0.81 handle was taken by the bulls. Looking at the recent action, we have formed a massive ascending triangle, which measures about 300 pips. Because of this, our opinion of this market has changed significantly. If we do manage to get above the 0.8150 level, we think this market goes much higher.

This could be due to the sudden resurgence of the Euro, which of course is enjoying the benefits of a suspected Spanish bailout. If we see some type of resistant candle, we may go ahead and ignore it as this uptrend has been so relentless.


EUR/GBP Forecast October 18, 2012, Technical Analysis

EUR/GBP Forecast October 18, 2012, Technical Analysis

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the 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.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment

Your email address will not be published.