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
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.
