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
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.
