By FXEmpire.com
The EUR/GBP pair originally fell during the session as the 0.82 level was tested severely. However, by the end of the session we saw a bounce that brought the pair back to the top of the recent consolidation area at roughly 0.8270 or so. With this action, it looks like the bulls aren’t quite ready to give up at the moment, and we may see a continuation of the bounce. However, we are only selling this market, and will look for weakness in which to do so on the 4 hour or even hourly chart as the trend is most certainly down, and the 0.83 level above looks very resistive.
EUR/GBP Forecast April 17, 2012, Technical Analysis
Originally posted here
