The EUR/GBP pair took off to the upside during the session on Thursday, breaking the top of the two previous hammers, a very positive sign. However, we
The EUR/GBP pair took off to the upside during the session on Thursday, breaking the top of the two previous hammers, a very positive sign. However, we recognize that the 0.7875 level is resistive, and we think that the level will more than likely turn the market back around, so we are simply waiting for a sell signal in that general vicinity. We have no interest in buying this market until we get well above there, so we will take this market one day at a time, but do expect to see the bearish pressure return eventually.
EUR/GBP Forecast October 3, 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.
