The EUR/GBP pair fell at the beginning of the session and tested the 0.85 level for support. The market has quite a bit of support just underneath at the
The EUR/GBP pair fell at the beginning of the session and tested the 0.85 level for support. The market has quite a bit of support just underneath at the 0.8450 level below, and as a result every time we rally I suspect that the sellers will get involved. If we break down below this level, I think then we start to target the 0.8350 level. The 0.87 level above is massive resistance, and as a result I think it’s not until we break above there until we start going long. Until then, selling exhaustion as the only way to go.
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.
