The EUR/GBP pair rallied during the day on Wednesday, but still has quite a bit of resistance above to continue going higher. The 0.87 level above is
The EUR/GBP pair rallied during the day on Wednesday, but still has quite a bit of resistance above to continue going higher. The 0.87 level above is essentially the “ceiling” in this market, so I think any type of exhaustive candle is a nice selling opportunity. An exhaustive candle is more than likely going to signal that we’re going to continue the longer-term target. Ultimately, the 0.83 level below will be targeted again, so having said that I think that it represents a longer-term selling opportunity when we do get the exhaustive candle above that should appear soon.
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.
