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EUR/GBP Forecast January 3, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Jan 1, 2017, 07:14 UTC

The EUR/GBP pair fell on Friday, as we had gotten a little bit overextended. I see quite a bit of resistance just above and extending all the way to the

EUR/GBP daily chart, January 03, 2016

The EUR/GBP pair fell on Friday, as we had gotten a little bit overextended. I see quite a bit of resistance just above and extending all the way to the 0.87 level, so selling it should continue to enter the market. We then could try to drop down towards the 0.83 handle, which I believe is the overall target currently. I have no interest in buying this pair, because of the overall resistance above, so I am a “sell the rallies” type of trader on short-term charts as we continue to go lower.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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