EUR/GBP Forecast August 23, 2017, Technical Analysis

The EUR/GBP pair rallied a bit during the day, as we continue to see bullish pressure near the 0.9150 level. The market looks as if it is attempting to break above the 0.92 handle, and a move above there should free the market to go looking for the 0.95 level after that. I don’t have any interest in shorting, I believe it is only a matter of time before we continue to go higher, and that the British pound itself is being sold off rather drastically. Because of this, I think that it’s only a matter of time before the buyers return on every dip, and once we break above the 0.92 level, I expect to see a surge of bullish pressure as it has historically been a very resistive level.

EUR/GBP Video 23.8.17