EUR/GBP Forecast Dec. 2nd, 2011, Technical Analysis

EUR/GBP rose during the session on Thursday as the markets were fairly quiet all around. The pair remains in the middle of a consolidative area from 0.85 to 0.8650. The candle for the day had a decent range to go with the gains, but as it is in the middle of the overall range, it isn’t playable at this point. The pair should continue to consolidate as both economies are struggling at this point, and there are a lot of headline risks involved in both the EU, and the UK via the banks.

EUR/GBP Forecast Dec. 2nd, 2011, Technical Analysis EUR/GBP Forecast Dec. 2nd, 2011, Technical Analysis

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