EUR/GBP pair initially fell during the course of the day on Thursday, but found enough support just above the 0.7025 level to turn things back around and
EUR/GBP pair initially fell during the course of the day on Thursday, but found enough support just above the 0.7025 level to turn things back around and form a hammer. The hammer of course is a bullish sign, so we could very well bounce from here and reach towards the 0.72 level again, which is the top of the recent consolidation area. That being said though, we recognize that a short-term rally should end up being a short-term selling opportunity. We have no interest in buying although we recognize that a bounce is very likely.
EUR/GBP Forecast November 13, 2015, Technical Analysis
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.
