The EUR/GBP pair went back and forth during the course of the day on Tuesday, as we tried to extend to the upside, as the 0.78 level has offered quite a
The EUR/GBP pair went back and forth during the course of the day on Tuesday, as we tried to extend to the upside, as the 0.78 level has offered quite a bit of resistance. If we can break above the top the range for the day on Tuesday, the market should continue to go towards the 0.80 handle. Pullbacks at this point should be buying opportunities on signs of support, and we believe that the 0.75 level is the absolute bottom of this market going forward. Ultimately, the market looks as if longer-term traders will be rewarded for hanging on.
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.
