EUR/GBP Forecast January 21, 2015, Technical Analysis

The EUR/GBP pair initially fell during the course of the session on Wednesday, but turned back around to form a bit of a hammer. The hammer of course is a positive candle, and the fact that it comes at the top of an uptrend is even more so positive. With that, it’s probably only a matter of time before the buyers get involved and we believe that this market should continue to find buyers every time we dip. Ultimately, the British pound is absolutely soft at this point in time, and this should continue.