EUR/GBP Stalls at 0.8550 as Technical Traders Weigh In

The EUR/GBP currency pair continues to trade near the 0.8550 level, locked in a relatively fair battle between the Euro and the Pound.

According to technical analyst Christopher Lewis, this market is worth watching due to its recent drop and subsequent bounce at the 50% Fibonacci retracement level and the 50-day EMA.

The question now is whether there will be follow-through in this market, which is still influenced by interest rates and energy supply concerns.

Lewis notes that breaking above the 50-day EMA would be a bullish sign, potentially opening up the door to 0.86, but this would require a reversal of the current bearish sentiment.