EUR/GBP Forecast January 26, 2016, Technical Analysis

The EUR/GBP pair rose during the course of the session on Monday, as we see quite a bit of support just above the 0.75 level. This of course is a large, round, psychologically significant number so it makes sense that the buyers would be attracted to this area. The fact that we are seeing the market close towards the top of the range is also a good sign, so therefore we are buyers at this point in time. We think the market will try to test the 0.77 level, and then perhaps go higher than that.

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