Follow the markets with Why I choose to talk about this pair today? Because Gbp is probably the weaker currency these days, and is falling against all other majors, including the Euro, although both pair usually move the same way. I was commenting the pair was clearly bullish, but with a resistance @ 0.8450/75, and here we are, with the pair fighting that zone of monthly maximums back to 1995/96 when the Euro was not the Euro, just a basket of currencies, meaning we have an all time high in the pair, since Euro begin to circulate back in 2002. Is the pair over bought? no doubts. Can we see some falls? just corrections! from a technical perspective, the pair remains bullish in daily and weekly time frames, and while the Euro seems ready for an upside correction, Gbp is unable to find a bottom. From actual price, we could see the pair correcting a bit to downside, only to take aims to continue to 0.8580 first, and then to the 0.8670 zone, mentioned earlier today.
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