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EUR/GBP forecast for the week of September 26, 2016, Technical Analysis

By:
Christopher Lewis
Published: Sep 24, 2016, 04:33 UTC

The EUR/GBP pair rallied during the course of the week, testing the highs yet again. I believe that we are trying to go higher, but we may have to pull

EUR/GBP weekly chart, September 26, 2016

The EUR/GBP pair rallied during the course of the week, testing the highs yet again. I believe that we are trying to go higher, but we may have to pull back a little bit in order to build up momentum. Pullbacks should be thought of as “value”, and with that being the case I feel that this is a market that you can only buy and therefore not sell. I believe that the “floor” in this market is somewhere near the 0.84 handle below. Given enough time, I anticipate that this market will go to the 0.90 level.

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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