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EUR/GBP forecast for the week of April 18, 2016, Technical Analysis

By:
Christopher Lewis
Updated: Apr 16, 2016, 05:47 UTC

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

EUR/GBP forecast for the week of April 18, 2016, Technical Analysis

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.

About the Author

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.

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