The EUR/GBP pair fell slightly during the course of the session on Thursday, but found enough support near the 0.71 level to turn things back around and
The EUR/GBP pair fell slightly during the course of the session on Thursday, but found enough support near the 0.71 level to turn things back around and form a hammer. The hammer of course is a bullish sign by we also recognize that there is a significant amount of resistance just above. The market will have to break above the 0.7225 area for us to start buying in the meantime, so at this point in time we are more or less just going to sit on the sidelines and wait to see what happens next.
EUR/GBP Forecast August 14, 2015, Technical Analysis
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.
