The EUR/GBP pair initially tried to rally during the week, but turned around to form a negative candle. Because of this, the market looks as if it is
The EUR/GBP pair initially tried to rally during the week, but turned around to form a negative candle. Because of this, the market looks as if it is going to test the 0.8350 level underneath, and if we can break below there the market could go much lower. Rallies now would be suspicious at best, and I would be more than willing to sell exhaustive candles above. It’s not until we break above the 0.87 level that I would be comfortable buying this pair at this juncture going forward.
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.
