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EUR/GBP Forecast August 27, 2015, Technical Analysis

By:
Christopher Lewis
Updated: Aug 27, 2015, 05:10 UTC

The EUR/GBP pair fell initially during the course of the session on Wednesday, but turned back around to form a hammer. We also formed a hammer on

EUR/GBP Forecast August 27, 2015, Technical Analysis

The EUR/GBP pair fell initially during the course of the session on Wednesday, but turned back around to form a hammer. We also formed a hammer on Tuesday, with a shooting star on Monday. With this being the case, looks like the market is simply going to grind away just below the 0.74 handle overall, and with that we are going to wait for breakout above that level in order to start buying. As far selling is concerned, we don’t really have any interest in doing so at the moment. After all, the British pound looks very soft suddenly around the world.

 

EUR/GBP Forecast August 27, 2015, Technical Analysis
EUR/GBP Forecast August 27, 2015, Technical Analysis

About the Author

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.

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