The EUR/GBP pair rallied during the session on Friday, but found a bit of resistance above. Ultimately, the market found a shooting star being printed,
The EUR/GBP pair rallied during the session on Friday, but found a bit of resistance above. Ultimately, the market found a shooting star being printed, and then of course suggests that the sellers could be involved. However, there is a significant amount of support just below, so I’m not willing to sell this market until we break down below the 0.8650 handle. Alternately, if we break above the top of the shooting star for the session on Friday, I believe the market goes much higher. Either way, expect a lot of choppiness in this pair as per usual.
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.
