By FXEmpire.com
The EUR/GBP pair had a bullish week after first suffering for the previous week. The resulting candle is a hammer, and it appears that there is a real chance for a bounce in this pair. The 0.81 level above will be a hurdle to overcome in order to go long, so we need to see a daily candle close above the 0.81 mark in order to buy. If we get that move though, we think the next stop is 0.83 or so. At that level, we think the bears come back out and sell. A break of the bottom of the weekly candle would have us selling as well.
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Originally posted here
