The EUR/GBP pair initially fell during the Friday session, but bounced in order to form a hammer. This move ended up being the first time that we closed
The EUR/GBP pair initially fell during the Friday session, but bounced in order to form a hammer. This move ended up being the first time that we closed above the 0.8150 level since March. With this being said, a break of the candles highs is almost enough to start going long. We essentially need to break the top of the Wednesday shooting star in order to start buying. With this market looking the way it does, we don’t see a sell opportunity unless we managed to break below the 0.81 handle. However, it is obvious that the upside is going to be an easier trade in the downside.
EUR/GBP Forecast December 24, 2012, 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.
