GBP/USD fell hard on Wednesday as it made fresh new lows. The resulting candle was a hammer though, and as such it looks like we might get a bounce. However, we feel that the 1.60 level could offer a ton of resistance and will cap any rise in price.
EUR/GBP pair rose again, but is approaching the 0.88 level. This area has been absolutely massive for this market, and should offer some kind of resistance. Add to that the fact that the markets come undone every time a bad rumor comes out of the EU, and you have a recipe for a fall. We are currently waiting for weak price action.
Create a FREE account