EUR/GBP Forecast September 20, 2012, Technical Analysis

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The EUR/GBP pair rose during the session on Wednesday as it bounced from just above the 0.80 handle. This area could be supportive, and as such if it does hold we think the uptrend could continue. Right now, and looks as if the market wants to settle between the 0.80 level, and the 0.81 level. Consolidation could be the way forward, as both currencies are currently doing fairly well in general. Because of this, we aren’t as interested in this pair until we get some type of clarity. This would include a break well below the 0.80 handle which would have us selling, or a break above the 0.81 handle which would have us buying.

EUR/GBP Forecast September 20, 2012, Technical Analysis

EUR/GBP Forecast September 20, 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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