By FXEmpire.com
The EUR/GBP pair tried to rally for the week, but only managed a very weak showing in the end. The resulting candle formed a shooting star at the bottom of the recent range, and this looks like a market that wants to fall now.
A break below the bottom of the shooting star signifies a move lower. If we get this, we are willing to hold onto the short end of this trade until we hit the 0.80 level. The market is certainly bearish overall, and as a result we feel that shorting it is the only direction we are comfortable with at the moment.
EUR/GBP Forecast for the Week of April 16, 2012, Technical Analysis
Originally posted here
