The EUR/GBP pair fell again for the week as the Euro continues to get pummeled by traders. The start of the week saw an attempt at a rally, but the 0.84
The EUR/GBP pair fell again for the week as the Euro continues to get pummeled by traders. The start of the week saw an attempt at a rally, but the 0.84 level held firm as resistance. The pair looks absolutely broken, and the 0.85 level giving way as support is now looking as a harbinger of worse performance to come. The pair is to be sold on rallies and new lows going forward. There is a cluster of support going down to the 0.80 handle, so bounces should be coming. We welcome them as opportunities to sell from higher levels.
EUR/GBP Forecast for the Week of January 2, 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.
