The EUR/GBP pair rose rapidly during the session as the Euro got a significant boos by liquidity in the banking system via the European Central Bank. However, over the long run, this will more than likely be Euro negative. The pair rose fairly quick, and then just “sat there”. With this in mind, we could see a little more bullishness in this pair, but the truth is that the 0.84 and certainly the 0.85 levels are going to be massive resistance. With that in mind, we are waiting for a weak candle to sell from.
EUR/GBP Forecast January 13, 2012, Technical Analysis
Originally posted here
