EUR/GBP Forecast September 3, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The EUR/GBP pair attempted to rally during the Friday session, but fell in order to form a shooting star just above the 0.79 level. This only reinforces the thought that we have a bounce the Euro being structurally week. We see the next couple hundred pips above going all the way to the 0.81 level as being far too resistive for this pair to continue higher. In fact, on a move below 0.79 we are more than willing to start selling this pair aggressively. We think that this pair eventually hit the 0.75 handle, and as such would be willing to hang onto the trade.

EUR/GBP Forecast September 3, 2012, Technical Analysis

EUR/GBP Forecast September 3, 2012, Technical Analysis

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