The EUR/GBP pair had a very volatile week, falling all the way towards the 0.70 level. However, we turned back around to form a hammer, and that hammer of
The EUR/GBP pair had a very volatile week, falling all the way towards the 0.70 level. However, we turned back around to form a hammer, and that hammer of course suggests that we are going to go higher. If we can break above the top of the hammer, this market should then go to the 0.74 level. That level of course is going to be massively resistive though, so we have no interest in hanging on to a move above there. A fall from here is something that we would ignore until we make a fresh, new low.
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.
