The EUR/GBP pair went back and forth during the course of the week, testing the 0.70 level. This is an area that of course will attract a lot of attention
The EUR/GBP pair went back and forth during the course of the week, testing the 0.70 level. This is an area that of course will attract a lot of attention due to the fact that it is a large, round, psychologically significant number. Ultimately, the market should make a decision one way or the other, but right now it certainly looks like the market is trying to break down. If we can get below the 0.69 level, the market should continue to go much lower. A break above the top of the range probably sends this market to reach towards the 0.73 level again.
EUR/GBP forecast for the week of November 23, 2015, 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.
