EUR/GBP rose slightly on the Thursday session, but was at one point much higher than the close. The pair formed a shooting star at the bottom of the most
EUR/GBP rose slightly on the Thursday session, but was at one point much higher than the close. The pair formed a shooting star at the bottom of the most recent fall, and this suggests that there is going to be more weakness going forward. The Euro is toxic at the moment, and there is a real chance that money is flowing out of Europe and back to the United Kingdom as banks get rid of their risk on the continent. The pair looks like a sell on the rally pair, and we shall continue to do so. A break below the session low from Thursday also has us selling again.
EUR/GBP Forecast December 23, 2011, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
