On Demand

EUR/GBP Forecast April 30, 2012, Technical Analysis

by

By FXEmpire.com

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

Tags:

0 Comments

Join In on this conversation, post a comment below.
No comments yet... Be the first to comment.

About the Author

FX Empire provides its readers and subscribers with the most expert and the most timely technical analyses, fundamental analyses, and news-pieces; this in order to empower them to make, for themselves, the best possible financial decisions. Our expert and user reviews of Forex brokers help our reader endeavor into Forex investing.

FXEmpire.com is updated daily with video based Technical Analyses, text based Fundamental Analyses and news-pieces. Our readers receive a review of the past week’s market activity coupled with an outlook for the upcoming week and regular market updates.

The FX Empire’s analysis departments and news desks are staffed with industry experts, each with academic backgrounds in relevant fields and years of trading experience. Some FX Empire analysts have positions in various markets. Those positions are widely varying and change frequently. 

Membership is Free. Join Now in less than 5 seconds! Alternatively Join or Sign In here.