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
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.
