EUR/GBP Forecast August 14, 2017, Technical Analysis

The EUR/GBP pair initially went sideways on Friday, and then shot to the upside. However, we have pulled back since then, and it looks likely that we are going to find buying opportunities. I think that the market will eventually try to go back to the 0.91 handle, and then break out to the 0.92 level. This is a market that of course is highly influenced by what’s going on with the negotiations between the United Kingdom and the European Union, and currently favors the EUR. I believe that the market will eventually break above the 0.92 handle and go looking towards the 0.95 level. I believe in buying dips, and I also think that the 0.90 level will be massively supportive underneath. Given enough time, I expect to see this market show signs of strength, and I believe that the impulsive candle during the session on Friday is just another sign that we are going to go higher over the longer term.

EUR/GBP Video 14.8.17