The EUR/GBP pair gapped lower on Monday, and spent the rest of the day trying to fill the gap. It didn’t quite accomplish that, and started to fall a bit
The EUR/GBP pair gapped lower on Monday, and spent the rest of the day trying to fill the gap. It didn’t quite accomplish that, and started to fall a bit in the late hours of the day to suggest even further weakness. With the concerns over European austerity measures and the elections, it makes sense that the Euro isn’t liked as much as the Pound. The fact that the Pound is strong in general certainly adds to this as well. We are willing to sell at this point. (We already have truth be known.) Buying isn’t even a thought as we move down to the 0.80 handle.
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.
