The EUR/GBP pair broke down during the course of the day on Wednesday, as we start to reach towards the 0.70 level. This is an area that is significant
The EUR/GBP pair broke down during the course of the day on Wednesday, as we start to reach towards the 0.70 level. This is an area that is significant from a psychological standpoint, so we think that a bounce could be coming. However, we think at any point in time a rally could offer selling opportunities and therefore we look to short-term charts in order to find resistive candles to short this market yet again. We have no interest in buying, at least not until we get some type of bullish signal on a longer-term chart.
EUR/GBP Forecast November 5, 2015, Technical Analysis
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.
