EUR/GBP fell on Wednesday as the Euro continues to struggle overall. The banks in Europe took far more advantage of the ECB’s lowered offer on funding,
EUR/GBP fell on Wednesday as the Euro continues to struggle overall. The banks in Europe took far more advantage of the ECB’s lowered offer on funding, and this shows just how much damage has been down in the EU so far. The Euro will suffer as British banks pull their money out of the continent, and the flow of money continues north across the English Channel. The breaking of 0.85 a couple of weeks ago was a significant event, and as a result we are only selling this pair currently. Rallies are to be sold, and new lows could be as well.
EUR/GBP Forecast December 22, 2011, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
