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EUR/GBP Forecast August 24, 2017, Technical Analysis
Updated: Aug 24, 2017, 04:58 GMT+00:00
The EUR/GBP pair went sideways initially during the day on Wednesday, but then shot towards the upside as we finally broke above the 0.92 level. This is a
The EUR/GBP pair went sideways initially during the day on Wednesday, but then shot towards the upside as we finally broke above the 0.92 level. This is a very bullish sign, and should continue to see a lot of money coming back into the marketplace. I believe that the market will go looking to the 0.95 level above, but it may take some time to get there. We should now see a bit of a “floor” in the market somewhere near the 0.91 handle. Because of the negotiations between the United Kingdom and the European Union, it’s possible that we may see this market going towards the parity level over the longer term.
EUR/GBP Video 24.8.17
About the Author
Christopher Lewisauthor
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.
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