The EUR/GBP pair initially fell during the course of the session on Friday, testing the 0.75 level. However, the market found enough buyers in that region
The EUR/GBP pair initially fell during the course of the session on Friday, testing the 0.75 level. However, the market found enough buyers in that region to turn things back around and form a hammer. It appears that the Euro is going to continue to go higher against the Pound given enough time, but you will have to be willing to sit on the sidelines and deal with a bit of volatility in the process. Ultimately, we do think that this market probably reaches towards the 0.80 level, but it is going to take some time to get there.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
