EUR/GBP Forecast October 23, 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 Monday as the market closed just above the 0.8150 level. This isn’t quite a breakout yet, but it certainly suggests that we are about to have one. Because of this, we are willing to go long of this market once we hit 0.8175 as it would show a shift higher in momentum.

The British pound looks relatively strong, but the Euro continues to get a bid and we believe that this movement has more to do with the Euro and less to do with the Pound. With that in mind, the Euro has been extraordinarily strong lately, and it does make sense this pair gets higher.

 

EUR/GBP Forecast October 23, 2012, Technical Analysis

EUR/GBP Forecast October 23, 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 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.

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


Your email address will not be published.