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EUR/GBP Forecast November 4, 2015, Technical Analysis

Christopher Lewis
eurgbp

The EUR/GBP pair fell during the course of the session on Tuesday, testing the 0.71 handle. This is a market that looks like it is going to in fact grind lower, even though it just 24 hours ago it look like there was a chance for a short-term bounce. The 0.70 level below is massively supportive though, so we do not anticipate going below there anytime soon. Nonetheless, this is probably one of our least favorite pairs to trade at the moment, simply because it appears that there isn’t much in the way of the risk to reward ratio by shorting it. At the same time, we simply cannot buy this market.

 

EUR/GBP Forecast November 4, 2015, Technical Analysis

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