By FXEmpire.com
The EUR/GBP pair fell hard during much of the session on Wednesday, but managed a nice bounce by the end of the session in order to form a long hammer at the 0.81 level. This suggests that a lot of buyers stepped into this pair during the session, and it also suggests that the next move is higher. With the UK in easing mode, and the ECB essentially sitting still – this could be the case. We believe buying this pair on a break above the highs from the Wednesday session is a decent short-term trade. However, we think the bulls run into trouble once they hit the 0.82 level.
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Originally posted here
