The EUR/GBP pair tried to rally during the course of the day on Wednesday, but as you can see found enough resistance to basically make it relatively
The EUR/GBP pair tried to rally during the course of the day on Wednesday, but as you can see found enough resistance to basically make it relatively unchanged for the session. We continue to think that this market is meandering around the 0.79 level, and as a result we have no interest whatsoever in trading this market as we believe it is essentially “dead money.” We will continue to watch the longer-term charts for some type of trading signal, but until we get that we are on the sidelines and believe that trading the Euro or the Pound is going to be easier against several other currencies.
EUR/GBP Forecast October 30, 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.
