By FXEmpire.com
The EUR/GBP pair fell for the Monday session, only to bounce a bit off of the 0.83 support level. This area has been stubbornly holding the market up, and it appears that we are simply not ready to break below it yet. The upside is capped by the 0.84 level, and we suspect that the next move may be up – but it won’t get above that mark. As a result, this is a “scalper’s only” type of market. We are interested in buying once the Monday session is over, but only for a quick 50 pip grab, nothing more, and nothing less. Selling will be our plan for a longer move if we can close sub-0.83 on a daily chart.
EUR/GBP Forecast April 3, 2012, Technical Analysis
Originally posted here
