EUR/GBP Forecast January 19, 2012, Technical Analysis

EUR/GBP rose for the Wednesday session as the Euro did well in general. The Pound also gained against the Dollar, and as a result the “risk on” trade came back. This pair has been in a downtrend as of late, and this latest move may have been the pullback people were waiting for. After all, the daily candle is a bit of a shooting star, and it is near the 0.8250 level, an area that has seen reactions recently. With his in mind, we are willing to sell on a break of the session lows from Wednesday. We are not buying the pair at this point in time.

EUR/GBP Forecast January 19, 2012, Technical Analysis
EUR/GBP Forecast January 19, 2012, Technical Analysis

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