The EUR/GBP pair is testing a major resistance barrier in the form of the 0.87 level above, which breaking that would of course be a very bullish sign. At
The EUR/GBP pair is testing a major resistance barrier in the form of the 0.87 level above, which breaking that would of course be a very bullish sign. At that point, I would anticipate that the market would then reach towards the 0.89 handle, and even possibly the 0.90 level. An exhaustive candle in this area would be an excellent selling signal, but we need to see that happen on the close of the daily chart in order to take that signal seriously. In the meantime, standing on the sidelines and waiting for clarity is the best way to deal with this type of action.
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.
