By FXEmpire.com
The EUR/GBP pair attempted to rally for the session on Tuesday, but failed miserably. The 0.80 level had been support previously, and during the session acted as resistance. The failure to recapture the 0.80 handle suggests to us that we have farther to fall in this pair. This wouldn’t exactly be a surprise, and the daily candle is also a shooting star at the bottom of the fall, a very bearish sign indeed.
A break of the lows from Tuesday would have us adding to our shorts in this market as the Euro is simply toxic at the moment. The Pound isn’t the best currency out there, but it isn’t the Euro and this is all that matters for the most part at the moment. Rallies can be sold as well.
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Originally posted here
