The EUR/GBP pair fell on Friday, as we had gotten a little bit overextended. I see quite a bit of resistance just above and extending all the way to the
The EUR/GBP pair fell on Friday, as we had gotten a little bit overextended. I see quite a bit of resistance just above and extending all the way to the 0.87 level, so selling it should continue to enter the market. We then could try to drop down towards the 0.83 handle, which I believe is the overall target currently. I have no interest in buying this pair, because of the overall resistance above, so I am a “sell the rallies” type of trader on short-term charts as we continue to go lower.
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.
