By FXEmpire.com
The EUR/GBP pair had a slightly positive day on Friday as the market took profits on several different currency pairs. The pair is currently forming a bearish flag, and a break below the uptrend line would signify a move much lower. We also see the 0.80 level as a supportive barrier as well. Because of this, we think that being patient and selling under that handle would be the prudent thing to do. For what it’s worth, the implied move by the length of the pole suggests that we are going to 0.76 in this market. We certainly thank that this is possible. We’re also fading rallies as they come.
Click here to read EUR/GBP Technical Analysis.
Originally posted here
