The EUR/GBP pair initially tried to rally on Friday, but then turned back around and fall later and test the 0.7925 region. However, we think that the
The EUR/GBP pair initially tried to rally on Friday, but then turned back around and fall later and test the 0.7925 region. However, we think that the real support is down at the 0.7875 level, and possibly even as low as the 0.7775 handle. We believe that the market continues to fall, but it might be choppy on the way down as this pair tends to be. On the other hand, if we break above the 0.8050 level, that would be a very bullish sign and have us aiming for the 0.81 handle first, and then possibly the 0.82 handle.
EUR/GBP Forecast October 20, 2014, 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.
