EUR/GBP Forecast October 4, 2012, Technical Analysis

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The EUR/GBP pair rose during the session as the Euro gained in general. The 0.8 0 handle gave way again, and this does suggest that we are going to make another attempt at the 0.81 handle. While the Euro enjoys a bit of a reprieve from bearishness, the British pound has sold off slightly. This explains the move in this market, and although we see the possibility of a move higher, we don’t necessarily think that something massive is in the works. In fact, we think this will be a bit of a grind with a slightly bullish bias. Because of this, this is one of her least favorite pair that the moment.

 

EUR/GBP Forecast October 4, 2012, Technical Analysis

EUR/GBP Forecast October 4, 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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