By FX Empire.com
EUR/GBP rose at first during the session on Tuesday, but fell later to form a shooting star. However, the hammer from the Monday session counteracts this candle as well. The 0.85 level is just above, so we prefer selling, but the Monday supportive candle does give us means for a pause. Because of this, we wish to see the bottom of the Monday hammer broken before we sell this pair. The 0.84 level below could be supportive, so a bounce from there isn’t unexpected either. A daily close above the 0.85 level had us long of this pair.
EUR/GBP Forecast February 29, 2012, Technical Analysis
Originally posted here
