The EUR/GBP pair fell on Friday, testing the hammer that had formed on Thursday. We still have plenty of support below though, and it’s not until we get
The EUR/GBP pair fell on Friday, testing the hammer that had formed on Thursday. We still have plenty of support below though, and it’s not until we get below the 0.8350 level that I would consider that this market should go lower. Any rally at this point should be a selling opportunity on signs of exhaustion. I.e. have no interest in buying this pair until we get above the 0.87 level on a daily close. Ultimately, this is a market that should continue to favor the British pound as the Euro is so soft at the moment.
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.
