The EUR/GBP pair initially fell during the Monday session, but found support at the 0.8150 level. The resulting balance saw this pair go as high as the
The EUR/GBP pair initially fell during the Monday session, but found support at the 0.8150 level. The resulting balance saw this pair go as high as the 0.8180 area, and as a result it looks like it has not only broken out, but looks like it’s ready to continue much higher. This coincides with a week British pound against other currencies, so we do believe that this move should continue and be the real thing. As for selling is concerned, we would need to see the 0.8100 handle broken to the downside with a daily close. Needless to say, on a break higher, we are more than willing to continue buying.
EUR/GBP Forecast December 26, 2012, 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.
