The EUR/GBP pair fell during the course of the session on Monday, testing the 0.71 level. However, it looks like the market is simply trying to grind back
The EUR/GBP pair fell during the course of the session on Monday, testing the 0.71 level. However, it looks like the market is simply trying to grind back and forth overall, so it makes sense that the market it could go a little bit lower and reach towards the 0.7050 level. Rallies at this point in time would be thought of as selling opportunities as far as we can see, and as a result we have no interest in buying this pair at the moment. Ultimately, buying opportunities for us don’t exist unless we see something on a longer-term chart.
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.
