By FXEmpire.com
The EUR/GBP pair rose during the session on Tuesday as the market continues to bounce around in what appears to be the body of a bearish flag. The pair certainly will see support at the 0.80 level below, so selling might be a bit difficult at these levels for those who are extremely risk adverse. The pair is most certainly in a downtrend though, and owning the Pound is going to be far preferable to owning the Euro in our estimation. Because of this – we are willing to go ahead and sell a break of the bottom of the flag. As a side note – the flag suggests we are going to the 0.76 level. We are also willing to fade rallies as well on signs of weakness.
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Originally posted here
