The EUR/GBP pair broke higher during the course of the day on Thursday, but found the 0.79 level to be far too resistive. That being the case, the market
The EUR/GBP pair broke higher during the course of the day on Thursday, but found the 0.79 level to be far too resistive. That being the case, the market ended up forming a shooting star like candle, and as a result it appears that the market will continue to go little bit lower. The candle from the previous week of course was a shooting star as well, but there is a significant amount of noise between here and the most recent low. Because of that, we are bearish but recognize that is going to be a difficult move and therefore feel that it’s easier to sell the Euro against other currencies.
EUR/GBP Forecast October 24, 2014, 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.
