By FXEmpire.com
EUR/GBP fell during the session on Monday as the Euro continued to suffer in the open markets. Looking at this pair, the bounce that we saw late in the session formed a hammer and we believe that a continuation of this bounce could be coming. It would make sense, as it has been sold so relentlessly for the last couple weeks. However, do not be fooled into thinking that this is some kind of massive trend change. The fact is that this pair is falling for reason, and we do continue to feel very bearish of it. With this in mind, we are selling week candles after a bounce. One area that is particularly interesting to us is the 0.7950 area which is about 100 pips or so above Monday’s close.
Click here to read EUR/GBP Technical Analysis.
Originally posted here
