By FX Empire.com
The EUR/GBP pair had a bearish we again as the market continues to consolidate between the 0.84 and 0.83 handles. The pair continues to be a fight between two economies that look quite troubled, and as heavily dependent on each other. The market will try to measure whether the European recession will continue to drag down the British economy, and base the market action off of this. In the mean time, we have a fairly straight forward signal: If we break above the 0.84 level, this pair looks to head back to the 0.85 level. If we break lower, we think it heads to 0.80 sooner or later.
EUR/GBP Forecast for the Week of March 19, 2012, Technical Analysis
Originally posted here
