The EUR/GBP pair rallied during the day on Friday, as we continue to see a lot of choppiness. I believe that we are gradually grinding our way to the
The EUR/GBP pair rallied during the day on Friday, as we continue to see a lot of choppiness. I believe that we are gradually grinding our way to the downside, so at signs of exhaustion, I am willing to sell this pair. I think that the 50-day exponential moving average, pictured in red on my chart, will continue to be dynamic resistance in a market that should show quite a bit of negativity if we can break down to a fresh, new low as it triggers a massive head and shoulders on the weekly chart.
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.
