The EUR/GBP pair rallied on Friday, but gave back about half of the gains. Ultimately, I think this market will try to breakdown but the 0.85 level has
The EUR/GBP pair rallied on Friday, but gave back about half of the gains. Ultimately, I think this market will try to breakdown but the 0.85 level has offered a bit of support for the short term. As you can see, there a lot of wicks on the previous candles this week, so I think that every time we rally the sellers will continue to get involved. I have no interest in buying this market, and I believe that every time we rally is just going to offer “value” in the British pound.
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.
