The EUR/GBP pair initially rose during the session, but then fell in order to form a red candle just below the 0.8150 resistance area. This isn't exactly
The EUR/GBP pair initially rose during the session, but then fell in order to form a red candle just below the 0.8150 resistance area. This isn’t exactly clear a candle however and as such were not ready to take position one way or the other. It would take a break below the 0.81 handle for us to start looking to short this marketplace. Alternately, if we get a move above the 0.8175 level, we could see continued and sustained bullishness in this marketplace. If that happens, the momentum should carry this market much higher than, perhaps as high as 0.85or so.
EUR/GBP Forecast December 6, 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.
