EUR/GBP Forecast January 25, 2016, Technical Analysis

The EUR/GBP pair fell during the day on Friday, testing the 0.75 region. We did bounce a little bit towards the end of the day, but quite frankly we are not ready to start buying yet. We need to see some type of supportive candle in order to start going long, and when that happens we would not hesitate to do so as we are in a longer-term uptrend. However, we recognize that support runs all the way down to the 0.74 level so we will have to be somewhat patient and wait for the right candle.

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