EUR/GBP Forecast Nov. 28th, 2011, Technical Analysis

EUR/GBP continued to fall on Friday as traders run from the Euro in general. The Pound is also not very liked at the moment, so the down move in this pair is going to be much slower than you would see in other Euro or Pound related crosses. The 0.85 level looks like it will be visited soon, but to be honest – we would rather sell both of these currencies in other crosses until that level gets broken to the downside.

EUR/GBP Forecast Nov. 28th, 2011, Technical AnalysisEUR/GBP Forecast Nov. 28th, 2011, Technical Analysis

EUR/GBP Forecast Nov. 25th, 2011, Technical Analysis

EUR/GBP rose during the Thursday session on a bounce from the 0.86 area. The pair looks very bearish though, and because of the 0.8650 level being so important, we aren’t willing to buy at this point. In fact, we are looking for weakness to sell from. The problems in the EU are simply too far along to consider buying the Euro at the moment. The Pound will suffer as a result of the Euro, and as a result this pair is a contest of two ugly currencies at the moment. The direction is down, but it could be a grind instead of a clean break.

EUR/GBP Forecast Nov. 25th, 2011, Technical AnalysisEUR/GBP Forecast Nov. 25th, 2011, Technical Analysis

EUR/GBP Forecast Nov. 24th, 2011, Technical Analysis

EUR/GBP fell hard during the Wednesday session as we pointed out it could on Tuesday. The Germans had a poor bond auction, propelling this pair lower as a result. The 0.86 level as slowed down the descent, and could produce a slight bounce, but the rout seems to be on, and the 0.85 level should be seen next. This pair can be sold on rallies in our opinion.

EUR/GBP Forecast Nov. 24th, 2011, Technical Analysis EUR/GBP Forecast Nov. 24th, 2011, Technical Analysis

EUR/GBP Forecast Nov. 23rd, 2011, Technical Analysis

EUR/GBP rose during the Tuesday session, but found a large amount of resistance at the 0.8650 level. The area was resistance recently, and has served as support in the past. Because of this, the shooting star candle that has formed for the day on Tuesday isn’t a big surprise. With this in mind, a break of the lows on Tuesday should see this pair fall back down to the 0.85 levels as we consolidate at these lower levels. If the top of the shooting star gets violated, we think the pair marches back to the 0.88 level as it has been a magnet over time as well.

EUR/GBP Forecast Nov. 23rd, 2011, Technical Analysis EUR/GBP Forecast Nov. 23rd, 2011, Technical Analysis