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EUR/GBP forecast for the week of August 22, 2016, Technical Analysis

By:
Christopher Lewis
Updated: Aug 20, 2016, 05:02 UTC

The EUR/GBP pair went back and forth during the course of the week, forming a somewhat neutral candle. That being the case, it looks as if we could very

EUR/GBP weekly chart, August 22, 2016

The EUR/GBP pair went back and forth during the course of the week, forming a somewhat neutral candle. That being the case, it looks as if we could very well pullback a bit, but the reality is that there is plenty of support just below so I’m waiting to see whether or not we get some type of supportive action near the 0.85 level, and again at the 0.83 level. It makes sense of this market should continue to go higher, simply because people are punishing the British pound believe in the European Union.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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