By FX Empire.com
The EUR/GBP pair rose slightly during the Wednesday session, but fell a bit in the afternoon of American trading to form a shooting star. With the recent downtrend, this could be the continuation signal that a lot of traders have been waiting on. Granted, the 0.83 level below will create a certain amount of support, but a break lower should signal that the bears are back out in force, and this pair will fall over time. The 0.83 level giving way would be a huge deal for the future of the market, and we think that the area is susceptible to giving way eventually. We still look for the 0.80 level to be reached, although as with all things in this pair – it will take time.
EUR/GBP Forecast March 8, 2012, Technical Analysis
Originally posted here
