EUR/GBP Forecast December 5, 2011, Technical Analysis

The EUR/GBP pair rose during the session on Friday, but gave up most of the gains by the end of the session. The resulting candle looks like a shooting star, and we see this as a short-term opportunity that could produce another fall down to 0.85 in the meantime. The breaking of the bottom of the Friday range is a bearish enough sign to have us short this market.  We aren’t interested in buying the Euro at all currently.

EUR/GBP Forecast December 5, 2011, Technical Analysis EUR/GBP Forecast December 5, 2011, Technical Analysis

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