By FXEmpire.com
The EUR/GBP pair spiked during the Tuesday session as the hammer from the 0.83 level that formed the session before was triggered as a buy signal. The bounce was certainly welcome news to the bulls, but by the end of the day it looks as if we are going to turn it around again. The resulting candle is a shooting star, and this should continue to tighten the market between the 0.8350 and 0.8280 levels. With this in mind, we are waiting to see a breakdown below the lows of last week in order to sell, and a break above the 0.84 level in which to buy.
EUR/GBP Forecast March 21, 2012, Technical Analysis
Originally posted here
