By FXEmpire.com
The EUR/GBP pair had a back and forth week over the last five sessions. The doji that was formed for the week sits just on top of the 0.80 level, and this looks as if we could be setting up for some kind of decision in this pair. The pair matches up one of the weakest currencies at the moment – the Euro – against the Pound which seems to be favored in general. The fact is that we prefer the downside in this market, but a break of the weekly candle and more importantly the 0.80 level is needed for us to sell at this point. If the top of the doji gets broken to the upside, we believe that the move will only be a bounce, and would be waiting to see if the 0.83 level presents serious resistance.
Click here a current EUR/GBP Chart.
Originally posted here
