The EUR/GBP pair broke down during the course of the session on Tuesday, making a fresh, new low. Because of this, and the fact that we have broken down
The EUR/GBP pair broke down during the course of the session on Tuesday, making a fresh, new low. Because of this, and the fact that we have broken down below a couple of hammers, it looks as if we are ready to fall apart. At this point in time, we have a target of 0.75, and believe that the sellers will go looking for that area. Short-term rallies that show signs of exhaustion should be nice opportunity start selling. The candle is very long, and that of course signals that there is real conviction in the selling pressure.
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.
