The EUR/GBP pair rallied during the course of the week, breaking will above the 0.85 level. Currently, looks as if we are still within consolidation
The EUR/GBP pair rallied during the course of the week, breaking will above the 0.85 level. Currently, looks as if we are still within consolidation though, so I don’t really have any interest in putting a lot of money into this market. Having said that, if we break down below the 0.8350 level, that would confirm a head and shoulders that should be long-term bearish. As far as buying is concerned, we would need to break above the 0.87 handle. It may be easier to trade this market off of the shorter-term charts.
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.
