EUR/GBP Forecast August 21, 2017, Technical Analysis

The EUR/GBP pair fell initially on Friday, but turned around to show signs of support again. This is a market that seems to have plenty of buyers underneath, but currently I think we are going to consolidate. This market will be highly influenced by the negotiations between the European Union and the United Kingdom obviously, so keep an eye on headlines. Ultimately though, looks as if the buyers still prefer the Euro, so I’m a buyer of dips. I think that the 0.9080 level right now is offering a temporary floor in the market, and that we will eventually go looking towards the 0.92 level. This market tends to grind, so keep in mind that patience will be needed to take your profits in this type of move. As far as selling is concerned, I don’t have any interest as we have seen such a strong uptrend over the longer term.

EUR/GBP Video 21.8.17