EUR/GBP Forecast October 24, 2012, Technical Analysis

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The EUR/GBP pair fell during the session on Tuesday, but found support at the same place it has over the last three or four days. The 0.81 handle continues offer support, and it is because of this that this pair looks likely to continue higher over the longer-term.

With the British pound breaking below the 1.60 level to the US dollar on Tuesday, this suggests that perhaps the Pound is starting to soften overall. With the Euro getting so much a reprieve in general, it makes sense of this market continues higher. On a move above the 0.8150 level, we suggest that perhaps this market will go higher.

 

EUR/GBP Forecast October 24, 2012, Technical Analysis

EUR/GBP Forecast October 24, 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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