The EUR/GBP pair rose during the course of the day on Monday, slamming into the 0.7875 handle. This is the top of the recent consolidation area, so as a
The EUR/GBP pair rose during the course of the day on Monday, slamming into the 0.7875 handle. This is the top of the recent consolidation area, so as a result we feel that this market will more than likely offer selling opportunity soon. We need to see some type of resistant candle in this general vicinity though in order to start selling. We have no interest in buying, we see far too much in the way of resistance between here and the 0.8050 level. Because of that, we are bearish but simply waiting for the right signal.
EUR/GBP Forecast October 7, 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.
