EUR/GBP Forecast December 19, 2011, Technical Analysis

EUR/GBP had a third consecutive quiet session on Friday as traders took a break from the onslaught that happened earlier in the week. The session shows that the market is focused in the 0.84 level as the market hasn’t been able to move. The break below the 0.85 level was massively supportive, and a break below that signals more weakness going ahead. The pair is a “sell only” pair now, and we are selling rallies at this point, or a break below 0.8360 or so. We will not buy this pair.

EUR/GBP Forecast December 19, 2011, Technical Analysis
EUR/GBP Forecast December 19, 2011, Technical Analysis

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