EUR/GBP Forecast September 7, 2012, Technical Analysis

The EUR/GBP pair went back and forth during the session on Thursday as the market simply has no directional bias at the moment. However, we do see the 0.79 level below as supportive and would start selling if it gave way. We need to see a daily close below that though, which means we will not be taking any trades during Friday. As for going long though, we see a ton of resistance all the way to the 0.81 handle. It isn’t in till we get above that level that we would consider buying this pair.

 

EUR/GBP Forecast September 7, 2012, Technical Analysis
EUR/GBP Forecast September 7, 2012, Technical Analysis

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