The EUR/GBP pair initially tried to rally on Thursday but turn right back around to form a fairly negative candle. However, we have to keep in mind that
The EUR/GBP pair initially tried to rally on Thursday but turn right back around to form a fairly negative candle. However, we have to keep in mind that the market has plenty of support below, especially near the 0.77 handle. We are much more comfortable buying supportive candles just below in order to take advantage of the longer-term uptrend, and of course “value” in the Euro. Ultimately, we believe that the market should then go to the 0.80 level, which is a large, round, psychologically significant number. Because of this, we are patient but realize volatility will be common.
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.
