EUR/GBP rose during the session on Monday as the gap down was filled from the weekend. However, the trend is most decidedly bearish overall, and we believe this market is still a “sell only” pair. The 0.83 level should continue to offer resistance going forward and we are willing to sell on weakness in this pair, including lower timeframes such as the 4 hour chart. We will not buy this pair as the Euro is simply too toxic to own at the point in time.
EUR/GBP Forecast January 10th, 2012, Technical Analysis
Originally posted here
