The EUR/GBP pair rose during most of the session on Monday, but struggled in the afternoon as the Americans were in control. Because of this, the pair
The EUR/GBP pair rose during most of the session on Monday, but struggled in the afternoon as the Americans were in control. Because of this, the pair fell late and formed a shooting star, and just under the 0.8150 level.
This area is significant resistance, and as a result we like this sell signal. If we break below the bottom of the shooting star for Monday, we are willing sell right away as the overall trend is down in this market. The 0.80 level would be targeted at that point, and as a result we think this could be a nice set up.
EUR/GBP Forecast December 4, 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.
