By FX Empire.com
EUR/GBP surged on Tuesday due to the news that the Greeks had received approval for the next bailout. The pair slammed into the 0.84 resistance level above, and the strength of the move was impressive. However, the 0.84 level continues to hold the market down, and the pair fell slightly at the end of the trading day, and as such it looks as if the area will continue to be a hurdle that the pair is going to struggle with. Because of this, we feel that any signs of weakness in the area should be a selling opportunity. We will not buy this pair until the 0.85 level gets broken above on t daily close.
EUR/GBP Forecast February 22, 2012, Technical Analysis
Originally posted here
