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
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.
