By FX Empire.com
The EUR/GBP pair fell again on Thursday as the pair continues to go against the Euro. The Pound had a much more constructive day overall, so this move was always going to happen. The trend is down overall during the last couple of moths, and we think this trend will more than likely continue.
The 0.84 gave way on Wednesday, and the fact that we didn’t really bounce much in order to retest the 0.84 level suggests there is real momentum behind this move. The 0.83 level below should offer some kind of supportive reaction, but overall it looks as if this pair is starting to fall faster, and this should gives us a chance to hit the 0.80 handle, a level we have been calling for over the last several weeks.
EUR/GBP Forecast March 2, 2012, Technical Analysis
Originally posted here
