By FX Empire.com
EUR/GBP had a very quiet day on Friday as the world focused on the US Non-Farm Payroll report. The pair ended up just slightly, and the day can best be described as a washout. The same support level seems to be keeping the pair aloft – the 0.8280 mark. Until that level gets closed below on the daily chart, it will be hard to short this pair. As far as going long, it will be difficult until we get above the 0.84 level, and that area will shortly be followed by resistance at the 0.85 level. We prefer to sell, as the trend to the downside is certainly still intact.
EUR/GBP Forecast February 6, 2012, Technical Analysis
Originally posted here
