EUR/GBP Forecast December 16, 2011, Technical Analysis

EUR/GBP had a very flat day on the session as traders took a breather on Thursday. The recent fall has been fairly severe, and the market needed a period of rest. The 0.85 level above giving way was a serious breach of support, and the bias is certainly to the downside. With that in mind, we are selling rallies and new lows. We will not buy the Euro at all currently, and that includes against the Pound.

EUR/GBP Forecast December 16, 2011, Technical Analysis
EUR/GBP Forecast December 16, 2011, Technical Analysis

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