By FXEmpire.com
The EUR/GBP pair had a very bullish day as the Euro gained against the Pound. The European Union Flash CPI came in a bit stronger than expected, so perhaps this was one of the catalysts for this move on Monday. The pair has been sold off in a strong manner lately, and it is hard to think that the trend has suddenly turned around. Because of this, we are still interested in selling, but need to see a weak candle in which to do it from.
The 0.8150 level is one that once served as support, and should now by all rights be resistance. If that is the case, we would love to short weak or red candles from this area, as we have found it at the end of Monday trading again. Buying isn’t a thought at the moment as the downward momentum remains in charge overall.
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Originally posted here
