EUR/GBP went back and forth during the session on Friday, essentially going nowhere though. Ultimately, the market looks as if it’s simply sitting below
EUR/GBP went back and forth during the session on Friday, essentially going nowhere though. Ultimately, the market looks as if it’s simply sitting below the 0.7875 level, a massive resistance barrier. The 0.7750 level below should be supportive, and as a result we don’t really have any interest in trading this market one way or the other. If we break out of this range though, we could get involved, but until that happens we feel that it’s probably best left alone. If you want to trade the Euro or the Pound, you are better off shorting them against the US dollar.
EUR/GBP Forecast October 6, 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.
