EUR/GBP Forecast Dec. 7th, 2011, Technical Analysis

EUR/GBP reversed the previous day’s fall on Tuesday as traders continue to push this pair back and forth. The market is a battle between unloved currencies, and the recent consolidation range shows that quite clearly. The 0.8650 level is resistance, and the 0.8500 level is support. This should continue to be the case for the near-term future as the financial situation in the EU will continue to have an adverse affect on both currencies. Since we are in the middle of the range, we see no trades presently.

EUR/GBP Forecast Dec. 7th, 2011, Technical Analysis EUR/GBP Forecast Dec. 7th, 2011, Technical Analysis

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