By FXEmpire.com
The EUR/GBP pair fell on Friday to continue the selloff in this pair. The 0.83 level has given way, and it now looks as if this level will be resistive going forward. The Euro obviously has many issues at this point, and we like selling it on the whole none the less. This pair is one of the most anti-Euro ones we can find at this point in time.
However, we think the candle for Friday being a hammer suggests that he market will bounce for the short-term, but we like the idea of selling rallies when they show weakness. We suspect that the 0.83 level will offer another selling opportunity. A break below 0.82 has us selling as well. Buying isn’t a thought at this point.
EUR/GBP Forecast April 9, 2012, Technical Analysis
Originally posted here
