The EUR/GBP pair fell slightly on Friday as we test the 200-day exponential moving average. If we can break down below the uptrend line, that would be
The EUR/GBP pair fell slightly on Friday as we test the 200-day exponential moving average. If we can break down below the uptrend line, that would be very negative and send this market much lower. They move below the 0.84 level would be huge, and have me shorting this market drastically. Alternately, if we see some type a supportive candle or a bounce, then I believe that we will bounce towards the 0.86 handle above. Nonetheless, I think the downside is starting to look very interesting, and can perhaps be a sign that we are ready to make a move.
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.
