EUR/GBP Forecast August 28, 2015, Technical Analysis

The EUR/GBP pair fell during the course of the session on Thursday, but still remains well within the consolidation area that we have been in for some time. Look at this, the market looks as if we will continue to bang around in this general vicinity so quite frankly we are not interested in trading this pair at the moment. With this, it’s only a matter of time before we break out, but we are sitting on the sidelines waiting for an impulsive candle in one direction or the other to start trading. A break above the 0.74 level would be a bullish sign, just as a break below the 0.72 level would be a negative one. In the meantime, we are looking at noise.