By FX Empire.com
EUR/GBP rose during the session after first falling when it was announced that the Bank of England would continue and expand its quantitative easing that has been in effect for months now. This gave a boost for the Euro as it also enjoyed a slight rally because of a supposed deal being worked out with the Greeks. However, both of these currencies carry risk at the moment, and we still feel the Euro is the riskier of the two. We see resistance at the 0.85 level as being even fiercer, so we will look to short from that area if we break higher. If we break lower, we would sell – but only after the bottom of the Thursday range is broken.
EUR/GBP Forecast February 10, 2012, Technical Analysis
Originally posted here
