The EUR/GBP pair had a choppy and volatile session during the day on Tuesday, bouncing around the 0.8450 level. Currently, I think the market is probably a bit difficult to trade, and I believe that the 0.8480 level above is resistive, while the 0.8425 level underneath is supportive. The market will probably be more of a range bound proposition over the next several sessions, and therefore am not overly enthused to be involved. Remember, this is the “Ground Zero” battleground of the United Kingdom leaving the European Union. As headlines cross the wires from time to time, we will continue to see volatility as traders tend to be very skittish about these things.
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