Advertisement
Advertisement

EUR/GBP Forecast March 24, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Mar 24, 2017, 04:35 UTC

The EUR/GBP pair fell slightly during the session on Thursday, testing the 50-day exponential moving average. There is a significant amount of support

EUR/GBP daily chart, March 24, 2017

The EUR/GBP pair fell slightly during the session on Thursday, testing the 50-day exponential moving average. There is a significant amount of support just below though, so I will be interested in seeing what happens next. Currently, both currencies look like they are starting to strengthen against the US dollar, so that will probably offer quite a bit of choppiness in this market. The 0.85 level below will be psychologically significant, so expect quite a bit of short-term support in that area. If we can break above the top of the shooting star from the Wednesday session, that would be a buying opportunity.

EUR/GBP Video 24.3.17

About the Author

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.

Did you find this article useful?

Advertisement