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EUR/GBP Forecast August 29, 2017, Technical Analysis
Updated: Aug 29, 2017, 04:12 GMT+00:00
The EUR/GBP pair gapped lower at the open on Monday, but then drove higher to fill that gap, only to turn around and drift a little bit lower later in the
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The EUR/GBP pair gapped lower at the open on Monday, but then drove higher to fill that gap, only to turn around and drift a little bit lower later in the day. However, we are in a longer-term uptrend, and I don’t think that has changed. I believe that given enough time the market will go reaching towards the 0.93 level again, so I am a buyer of the dip. I believe that the 0.92 level underneath should be massively supportive, and given enough time, I think we will even reach as high as the 0.95 level next. Buying and holding is probably the best way to trade this market.
EUR/GBP Video 29.8.17
About the Author
Christopher LewisSenior Analyst
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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