EUR/GBP Forecast January 27, 2016, Technical Analysis

The EUR/GBP pair initially tried to rally on Tuesday but turned back around as we continue to see quite a bit of bearish pressure. However, we recognize that the 0.75 level should be supportive, and could very well drop down to the 0.74 level, as we believe the area of support is more of a zone than a line. We are simply waiting for some type of supportive candle in order to start going long, and at that point in time we would not hesitate in doing so as the pair has recently seen quite a bit of bullish pressure.

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