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EUR/GBP Forecast November 6, 2015, Technical Analysis

By:
Christopher Lewis
Updated: Nov 6, 2015, 05:12 UTC

The EUR/GBP pair initially fell during the course of the session on Thursday, but found enough support near the 0.70 level to turn things back around and

EUR/GBP Forecast November 6, 2015, Technical Analysis

The EUR/GBP pair initially fell during the course of the session on Thursday, but found enough support near the 0.70 level to turn things back around and break much higher. In fact, this is a market that looks very bullish all of a sudden, as this is a very impulsive candle to the upside. With this, if we can break above the top of the candle it would suggest that we should see more continuation to the upside as it appears that the longer-term consolidation area and support at the 0.70 level should continue to move this market.


 

EUR/GBP Forecast November 6, 2015, Technical Analysis
EUR/GBP Forecast November 6, 2015, Technical Analysis

About the Author

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.

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