By FXEmpire.com
Wednesday saw the EUR/GBP pair break down quite a bit as the Bank of England suggested that there was little need for the adding of liquidity or easing of monetary policy for the British economy. The fall has broken the 0.82 handle that we have been watching lately, and suggests to us that the pair is ready to continue lower. The 0.80 level is still our long-term target, but this pair tends to be choppy over time, and as such we have to be patient. We are selling form this level, and willing to ride out this trade as it also has a positive swap as well.
EUR/GBP Forecast April 19, 2012, Technical Analysis
Originally posted here
