The EUR/GBP pair initially tried to rally during the course of the day on Friday, but then ended up falling rather significantly. Because of this, we feel
The EUR/GBP pair initially tried to rally during the course of the day on Friday, but then ended up falling rather significantly. Because of this, we feel the market probably going to drift lower, heading towards the 0.70 level. On a break below the bottom of the range for Friday, we could sell, but we look at this is a short-term opportunity at best. Right now, this is one of the more choppy currency pair is that we trade, and as a result it’s one of our least favorite to risk any real money in.
EUR/GBP Forecast August 17, 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.
