The EUR/GBP pair fell significantly during the course of the week, breaking back below the 0.80 level. That of course is a somewhat negative sign but we
The EUR/GBP pair fell significantly during the course of the week, breaking back below the 0.80 level. That of course is a somewhat negative sign but we see quite a bit of support at the 0.79 level below, and with that being the case we are waiting to see a supportive candle in order to start going long. Ultimately, there is no real interest in shorting this market, so we are certainly waiting to see whether or not the buyers get involved again so we can go long.
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.