The EUR/GBP pair broke down during the week, after initially trying to rally through the 0.85 handle. Now that we have broken down below this level
The EUR/GBP pair broke down during the week, after initially trying to rally through the 0.85 handle. Now that we have broken down below this level significantly, I believe that it’s only a matter of time before we break down even further. This will be especially true if the French elections go and more of an anti-EU direction, which very well could happen. The British pound has exploded to the upside in general, and I believe that will continue to weigh upon this pair. Buying isn’t even a thought.
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.
