By FXEmpire.com
The EUR/GBP pair spent quite a bit of the day on Thursday falling. However, but the end of the session we saw a nice bounce, and formed a hammer on the 0.83 support level. The market has been stuck between the 0.83 and 0.84 levels, and as such we think the pair will continue to move sideways. Scalpers could get involved, but in reality the easier move is to wait until we close below the 0.83 level to sell, and a break above the 0.85 level – an area we see as more important than the 0.84 level – to get into the market. Both economies are very interconnected, so choppy price action is typical of the pair.
EUR/GBP Forecast March 23, 2012, Technical Analysis
Originally posted here
