By FXEmpire.com
The EUR/GBP pair shot straight up again on Thursday as the Pound continues to fall rapidly against other currencies. Even with the Euro being so reviled, the Pound has been the biggest loser over the last couple of sessions, especially against the US dollar. Because of this relationship, the pair was destined to rise.
However, the trend is far from being bullish at this point. In fact, we see the gap that jumped though the 0.81 level a couple of weekends ago as a massive resistance point. It is at that level that we would look for weak candles to sell in order to join the larger trend to the downside.
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Originally posted here
