EUR/GBP Forecast January 22, 2016, Technical Analysis

The EUR/GBP pair initially tried to rally during the course of the day on Thursday, but failed out the 0.7750 level in order to form a fairly negative candle. That of course is a very negative sign and as a result we think that the market will probably pull back towards the 0.75 level. There is a significant amount of support there, so at this point in time we are looking for supportive candles in order to start buying again. We have noticed whatsoever in selling this market as the trend has been so strong recently.