The EUR/GBP pair rose during the course of the session on Wednesday, but started to slow down the rally right at the 0.8150 level, or in other words at
The EUR/GBP pair rose during the course of the session on Wednesday, but started to slow down the rally right at the 0.8150 level, or in other words at the very first signs of resistance. For us, this is very telling as we are still in a downtrend, and the market will as soon as it runs into the first signs of having to fight that. With this being the case, we are looking for a resistive candle in order to start selling, he still maintain that this pair goes down to the 0.80 area before it’s all said and done.
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.
