EUR/GBP rose to retest the 0.84 level again on the Tuesday session, only to turn around and fall. The pair looks like it wants to continue to consolidate in the 0.84 and 0.83 area as the daily candle is a shooting star. The pair is a fight between two weak currencies, and as such might have trouble gaining traction in either direction. The pair has a bearish tone overall, and as a result we prefer selling at the top of the range that the market is stuck in at the moment. The breaking of the lows from Tuesday is our sell signal to try and pick up about 60 pips.
EUR/GBP Forecast February 15, 2012, Technical Analysis
Originally posted here
