The EUR/GBP pair fell initially during the session on Monday, but found enough support near the 0.7850 level to turn things back around and form a
The EUR/GBP pair fell initially during the session on Monday, but found enough support near the 0.7850 level to turn things back around and form a nice-looking hammer. That hammer of course is a very positive sign, but we have quite a few shooting stars proceeding this candle. Because of that, we still believe that this is a market that is more than likely best left alone, as it will be much easier to trade the Pound or the Euro against many other currencies around the world, most notably the US dollar.
EUR/GBP Forecast October 28, 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.
