The EUR/GBP pair fell during the course of the day on Thursday, but found enough support below the 0.79 level to bounce and form a nice-looking hammer.
The EUR/GBP pair fell during the course of the day on Thursday, but found enough support below the 0.79 level to bounce and form a nice-looking hammer. However, there have been several shooting stars previously, and as a result it appears of this market is simply wound up far too tight in order to place any significant amount of money into the marketplace, and as a result we are going to stay on the sidelines. We will be looking to longer-term charts for clues as to what to do next. Until we get that, we are on the sidelines.
EUR/GBP Forecast October 31, 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.
