EUR/GBP Forecast September 17, 2012, Technical Analysis

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The EUR/GBP pair shot straight up during the session on Friday as the Euro continues to enjoy a resurgence among traders. Also, there is a bit of a short covering rally in the Euro presently, and this or says this market higher. However, we have stated in the past that we are looking for 0.81 or above daily close, something we didn’t get after the Friday session.

Nonetheless, it does look like it’s somewhat inevitable. On a close above the highs from Friday, we will be buying this market. As for selling, it is going to be very difficult to do until we get well below the 0.79 handle.

 

EUR/GBP Forecast September 17, 2012, Technical Analysis

EUR/GBP Forecast September 17, 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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