EUR/GBP Forecast September 7, 2012, Technical Analysis

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The EUR/GBP pair went back and forth during the session on Thursday as the market simply has no directional bias at the moment. However, we do see the 0.79 level below as supportive and would start selling if it gave way. We need to see a daily close below that though, which means we will not be taking any trades during Friday. As for going long though, we see a ton of resistance all the way to the 0.81 handle. It isn’t in till we get above that level that we would consider buying this pair.

 

EUR/GBP Forecast September 7, 2012, Technical Analysis

EUR/GBP Forecast September 7, 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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