The EUR/GBP pair did very little on Thursday as markets were relatively quiet. Ultimately, most markets were quiet since the United States was celebrating
The EUR/GBP pair did very little on Thursday as markets were relatively quiet. Ultimately, most markets were quiet since the United States was celebrating Thanksgiving. This is a market that continues to grind lower though, and I believe is reaching towards the 0.8350 level. Any rally this point in time will probably be sold off on signs of exhaustion, but I still believe that it’s going to be choppy at best. It’s a longer-term move waiting to happen, but it’s going to move in slow motion. I don’t have any interest in buying until we break above the 0.87 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.
