The EUR/GBP pair went back and forth during the course of the day on Monday, bouncing off of the 0.70 level. However, the market essentially went nowhere
The EUR/GBP pair went back and forth during the course of the day on Monday, bouncing off of the 0.70 level. However, the market essentially went nowhere before was all said and done, and as a result we are on the sidelines. This is a market that is sitting just above significant support, so quite frankly it would not surprise us at all to see more sideways moving action than anything else. Overall though, a rally would have us selling off of short-term signs of weakness. We have no interest in buying at the moment.
EUR/GBP Forecast August 4, 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.
