The EUR/GBP pair rallied at the open on Wednesday, but turned right back around to form a negative candle. I think that there is quite a bit of support
The EUR/GBP pair rallied at the open on Wednesday, but turned right back around to form a negative candle. I think that there is quite a bit of support below though, so having said that I don’t think that this market is one that can be bought. I believe every time we rally and show signs of exhaustion is time to start selling yet again. I believe that we are reaching towards the 0.8350 level given enough time, and as a result I remain quite negative of this market going forward from here.
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.
