The EUR/GBP pair fell during the Friday session as the Pound continues to gain overall. The pair looks extraordinarily weak at this point, and as a result we don't buy it under these conditions. We would need a close above the 0.83 level in order to even begin to think about being long. The pair will be sold by us on rallies, and new lows. We are aiming for the 0.80 handle before it is all said and done, and collecting the positive swap at the same time, making this more of an investment than a short term trade.
Click here a current EUR/GBP Chart.
Originally posted here