EUR/GBP rose for the start of the Tuesday session, but quickly retraced that move and more. The resulting candle is a shooting star in an already bearish
EUR/GBP rose for the start of the Tuesday session, but quickly retraced that move and more. The resulting candle is a shooting star in an already bearish market. The move shows just how little faith there is in the bullish moves of this pair, and that the downside should continue to be the way to go going forward. On a break of the Tuesday lows, we would be willing to sell yet again. Buying isn’t going to be done by us as the trend is clearly favoring the Pound at this point.
EUR/GBP Forecast December 28, 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.
