The EUR/GBP pair initially tried to rally during the week but turned back around to form a shooting star. The shooting star of course is a very negative
The EUR/GBP pair initially tried to rally during the week but turned back around to form a shooting star. The shooting star of course is a very negative sign, and if we can break down below the 0.75 level, we feel that the market can go much lower. At that point in time though, we would have to wonder whether or not there would be support somewhere closer to the 0.74 handle, so with that regardless it is going to be very difficult. Nonetheless, it does look like we are trying to roll over.
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.
