The EUR/GBP pair bounced off of the 0.70 level during the course of the week, showing that we are at least seeing a reaction to the psychological nature
The EUR/GBP pair bounced off of the 0.70 level during the course of the week, showing that we are at least seeing a reaction to the psychological nature of the round number. However, this is a market still has plenty of bearish pressure in it, so we are waiting for rallies that show signs of exhaustion in order to start selling. If we break down below the 0.6950 level, where sellers there as well. We have no interest in buying this market at the moment as it is so negative.
EUR/GBP forecast for the week of November 30, 2015, Technical Analysis
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.
