By FXEmpire.com
EUR/GBP fell during the session as the doubts about the European union leaders and their ability to come together continued on Tuesday. This market has a bearish flag that we have been talking about for some time now, and it is just been triggered. As we smashed through the bottom of the flag, we also managed to break below 0.80 as well. This is a very bearish signal, and we think that if we get any continuation of this move, we could end up seeing a move all the way down to 0.76 or so. Based upon the measurement of the flag pole, this could be where we end up. We obviously are not buying this pair anymore, and with the drama in Europe it isn’t hard to imagine why.
Click here to read EUR/GBP Technical Analysis.
Originally posted here
