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.
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.
