The EUR/GBP pair went back and forth during the course of the week, gaining slightly by the time the markets closed. The 0.7875 level above is resistance
The EUR/GBP pair went back and forth during the course of the week, gaining slightly by the time the markets closed. The 0.7875 level above is resistance though, so we need to get above there in order to start buying and head to the 0.80 level. On the other hand, if we break down below the 0.7750 level, this market could fall the way down to the 0.75 handle. The meantime though, it’s not really a market conducive to placing long-term trades at the moment, so therefore we have no interest in risking any money.
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.
