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.
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.
