The EUR/GBP pair tried to rally during the day on Monday but continues to find the 0.85 level as an area of interest. This caused a bit of resistance, and
The EUR/GBP pair tried to rally during the day on Monday but continues to find the 0.85 level as an area of interest. This caused a bit of resistance, and it looks as if we’re going to try to break down below the uptrend line just below. If we do, I think that the market can go much further, but we will have to wait and see whether that happens. A break above the 0.85 level could be a short-term buying opportunity, but I would suggest that it is only short-term at best.
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.
