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.
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.
