By FX Empire.com
The EUR/GBP pair rose on Thursday as the markets tried to get “in front of” the assumed positive news from the Greek bond swap. The 0.84 level held true though, and the resistance seems to be back at that area. The pair will certainly be influenced by the Greek debt announcement, and as this point we would be leery of getting involved to the upside as we think this resistance area will be significant yet again. In fact, we prefer selling on rallies – and will do so until we break the 0.85 level on a daily close. Weakness is to be sold, and so are new lows.
EUR/GBP Forecast March 9, 2012, Technical Analysis
Originally posted here
