EUR/GBP shot straight up for the second day in a row on Thursday as the dovish minutes that came out of the Bank of England continues to weigh on the Pound in general at the moment. The Euro is getting another round of “hopium” boosts, and with this being said, we find the market slamming into the 0.85 level. The area is a major resistance level, and candles that show weakness at this level will offer selling opportunities. If we can close on the daily chart well above the mark, we would have to admit that the trend is changing back to a positive one, and perhaps buy at that point.
EUR/GBP Forecast February, 24, 2012, Technical Analysis
Originally posted here
