EUR/GBP Forecast September 6, 2012, Technical Analysis
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EUR/GBP rose during the session on Wednesday as the 0.79 level held again as support. The pair does look heavily supported if that level, although overall it is certainly bearish. Once we get below the 0.79 handle we are more than willing to start selling this pair hand over fist. In order to buy this pair, we would have to get above the massive resistance area that we see all the way up to the 0.81 level. It isn’t in till we get above that area that we are willing to start buying this pair again. For us, the trend is definitely down so we want to see that summit 0.79 print.
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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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