By FX Empire.com
EUR/GBP has a positive day as the pair gained in reaction to the suggestion that the Greeks will be bailed out. Perhaps not so much a reaction of Euro strength, but rather short covering this pair rose. However, it is currently in the middle of consolidation, and in the center of it to boot. With this in mind, it is hard to take a trade at this point, but we do have a nice guide at the 0.84 level for resistance. Any weakness at that area has us selling this pair as the downtrend is strong. The buying of this pair won’t be done until we get well over the 0.85 level.
EUR/GBP Forecast February 21, 2012, Technical Analysis
Originally posted here
