The EUR/GBP pair found far too much resistance at the 0.85 level to continue going higher. The initial gap was in reaction to the French election results,
The EUR/GBP pair found far too much resistance at the 0.85 level to continue going higher. The initial gap was in reaction to the French election results, but it now looks as if the sellers have come back. We have recently broken the neckline of a head and shoulders, so I believe that this market very well could go lower. If we break down below the 0.83 level, I feel at that point in time the sellers will step back into this market and drive pricing much lower.
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.
