By FX Empire.com
The EUR/GBP pair rose after first falling during the Monday session. The pair managed to close above the 0.84 resistance level, and as a result it looks like the pair will now attempt a move higher to the 0.85 level again.
With the recent higher lows, this pair looks as if it is trying to grind higher, but it will be choppy as it does. We would consider buying this pair on a break of the Monday highs, but understand that the price action might not be great. 0.85 looks as if it could be a serious barrier, and we will take profit before then. The breaking below the lows from Monday has us selling this market as it shows real weakness.
EUR/GBP Forecast March 13, 2012, Technical Analysis
Originally posted here
