EUR/GBP forecast for the week of August 17, 2015, Technical Analysis

The EUR/GBP pair went back and forth during the course of the week, essentially showing quite a bit of neutrality. Ultimately, we feel that this market is bearish, but quite frankly there is enough volatility in choppiness at this point in time that we feel the market will continue to be very difficult to hang onto this market, and as a result we are to simply going to sit on the sidelines and wait for short-term rallies to sell short-term positions at best. However, this is one of the least favorite markets at the moment for us.