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
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.
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.
