During the session last Tuesday, the euro and green bucks slipped higher but the tandem faced quite a bit of resistance over the handle of 1.25. In this situation, it ended by forming an enormous shooting star that results to tandem of EUR/USD to continue selling off in the surrounding vicinity. When the bottom of the hammer broke below, the market might go to the level of 1.2250 provided with adequate time.
During Tuesday session, the GBP/USD pair initially fell and then broke much higher. The 1.58 level, however, presented resistance and consequently buying is not ready. Meanwhile, buyers are hesitant to purchase this pair until it broke above the handle of 1.60 handle while expecting market to change trend again. Finally, in the sidelines, a decent buying opportunity is appearing soon. The candle is not right to start selling.
At the start of the Tuesday session, the EUR/GBP pair was broken higher at the start but was finally fell adequately to create a shooting star. Shooting stars suggested the pulling back of market to go much lower. However, Lots of clamor from below keep the market from any type of clean move. Ultimately, traders have to prepare volatility if they go to trade this market.