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.
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.
