By FX Empire.com
The EUR/GBP pair rose during the week as the Euro got a bid because of rumors of a Greek debt deal. Also, the Bank of England suggested that there will be even more quantitative easing this previous week, and this weighed upon the Pound in general. The pair currently looks as if it is in consolidation between the 0.84 and 0.82 levels, and looks like it will stay there for the short-term. Until we break down below the 0.82 level, it will be hard to sell for anything along the lines of a long-term trade. The pair cannot be bought until the 0.85 level gets broken to the upside. In the meantime, this pair looks like a good one to day trade.
EUR/GBP Forecast for the Week of February 13, 2012, Technical Analysis
Originally posted here
