EUR/GBP rose during the session on Wednesday as the grind continues. The bearish flag is still there, and we haven’t seen the bottom of it give way. However, there are plenty of problems in Europe, so one think that it would only be a matter of time before a headline pushes the Euro down overall. The 0.81 level has a history of being resistive, and there are Spanish bonds for sale today. Any bad result could send this pair much lower. The trend has been down lately, so we are only selling this pair at the moment. A break of the bottom of this flag has us aggressively selling.

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Originally posted here