EUR/GBP Forecast September 21, 2012, Technical Analysis
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The EUR/GBP pair fell for most of the session, and even crash through the 0.80 handle. We have and broke the support yet, but if we get much lower we think that this pair could continue to try and drive price south.
The British pound is certainly a strong currency, but then again the Euro has been recently as well. Because of this, this market is a bit difficult to trade as there is no clear-cut “loser” at this point time. We think that this market will be interesting once at the 0.808 handle, and are going to stay out of it until we get the Friday print. It’s very possible that the Friday close could dictate will we do next.
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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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