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EUR/GBP Forecast October 15, 2014, Technical Analysis

By:
Christopher Lewis
Updated: Aug 25, 2015, 00:00 UTC

The EUR/GBP pair broke higher during the session on Tuesday, testing the 0.7950 level. We believe that this market should continue to go little bit

EUR/GBP Forecast October 15, 2014, Technical Analysis

The EUR/GBP pair broke higher during the session on Tuesday, testing the 0.7950 level. We believe that this market should continue to go little bit higher, probably going to the 0.8050 level. However, this market is most certainly bearish longer-term, so we are not overly excited about going long at this point. In fact, we wish to wait for a resistant candle above in order to start selling yet again. We believe that the 0.80 level will be the beginning of resistance, and that we should see a significant zone of it offering selling opportunity soon.

 

EUR/GBP Forecast October 15, 2014, Technical Analysis
EUR/GBP Forecast October 15, 2014, 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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