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EUR/GBP forecast for the week of January 25, 2016, Technical Analysis

By:
Christopher Lewis
Updated: Jan 23, 2016, 06:43 UTC

The EUR/GBP pair initially rallied during the course the week but turned back around to form a bit of a shooting star. However, there is a significant

EUR/GBP forecast for the week of January 25, 2016, Technical Analysis

The EUR/GBP pair initially rallied during the course the week but turned back around to form a bit of a shooting star. However, there is a significant amount of support at the 0.75 level, and extending down to the 0.74 handle. With fact, we would fully anticipate seeing some type of support below that could turn this market back around. We are buyers of supportive candles and of course a break above the top of the shooting star as it shows continued bullish momentum and should send this market much higher.

 

EUR/GBP forecast for the week of January 25, 2016, Technical Analysis
EUR/GBP forecast for the week of January 25, 2016, Technical Analysis

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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