EUR/GBP forecast for the week of August 21, 2017, Technical Analysis

The EUR/GBP pair initially fell during the week but found enough support just above the 0.90 level to turn around and form a very bullish candle. We are approaching highs at the 0.92 level, so the rate of acceleration may slowdown. However, I believe the pullbacks will be supported, and that the 0.90 level underneath will be a massive support level. I think that the markets will continue to focus on the entire “Brexit” situation, which does favor the European Union as far as known scenarios are concerned. With this in mind, if we can break above the 0.92 level, the market should then go towards the 0.95 level to the upside.

EUR/GBP Video 21.8.17