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EUR/GBP Forecast September 5, 2017, Technical Analysis
Updated: Sep 5, 2017, 03:51 GMT+00:00
The EUR/GBP pair rose initially during the trading session on Monday, but has found a bit of resistance near the 0.9220 level to pull back. On the hourly
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The EUR/GBP pair rose initially during the trading session on Monday, but has found a bit of resistance near the 0.9220 level to pull back. On the hourly chart, we are currently testing the 24-hour moving average, and have found a bit of support. I think that the longer-term uptrend will continue given enough time, but it may be quite noisy in the meantime. Given enough time, I fully anticipate seeing this market go looking towards the 0.93 and then eventually 0.95. I think that the 0.90 level underneath continues to be a massive “floor” in the market.
EUR/GBP Video 05.9.17
About the Author
Christopher Lewisauthor
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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