EUR/GBP Forecast October 24, 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 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.

 

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