The EUR/GBP pair fell during the course of the week, showing signs of negativity. However, we did find enough support underneath to turn things around. A
The EUR/GBP pair fell during the course of the week, showing signs of negativity. However, we did find enough support underneath to turn things around. A break above the 0.5 level should send this market higher, but if we can make a fresh, new low then the market will probably fall apart. In fact, if we can break down below the 0.83 handle, that is a head and shoulders pattern completed, and should send this market much lower. In the meantime, it’s easier to trade this market off of short-term charts in my estimation.
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.
