The EUR/GBP pair bounced during the course of the session on Wednesday, but is still a very low levels. It is not until we break above the session Monday
The EUR/GBP pair bounced during the course of the session on Wednesday, but is still a very low levels. It is not until we break above the session Monday candle that we are willing to start buying this pair. As far selling is concerned, there’s far too much in the way of support below for us to start doing so as the market has an extraordinarily large amount of buying pressure just below. This is a market that tends to be very choppy and short-term in general, so having said that caution will be needed.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
