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
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
