EUR/GBP fell on Monday as the Euro continues to concern traders as a whole. The market looks very weak, and the recent breakdown below the 0.85 level
EUR/GBP fell on Monday as the Euro continues to concern traders as a whole. The market looks very weak, and the recent breakdown below the 0.85 level sends a very bearish tone in this market. The breaking lower of this pair would send it to the 0.80 level, and rallies are simply going to be invitations to sell from higher levels. With all of this in mind, we are selling on a break lower or after rallies as long as we stay under the aforementioned 0.85 level.
EUR/GBP Forecast December 20, 2011, 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.
