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
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.
