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EUR/GBP forecast for the week of October 10, 2016, Technical Analysis

By:
Christopher Lewis
Published: Oct 8, 2016, 03:53 UTC

The EUR/GBP pair broke higher during the course of the week, slicing through the 0.90 level. However, that area did offer a bit of resistance, so with

EUR/GBP weekly chart,October 10, 2016

The EUR/GBP pair broke higher during the course of the week, slicing through the 0.90 level. However, that area did offer a bit of resistance, so with that being the case it’s likely that the market will have to back up a little bit in order to continue going long. I believe that the 0.87 level below is supportive, and as a result it very likely that pullbacks will be considered to be value buying the marketplace, and as a result I have no interest in selling this market at this point in time.

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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