EUR/GBP Forecast January 29, 2016, Technical Analysis

The EUR/GBP pair initially fell during the day on Thursday but found enough support below to turn things around a bit. However, the one thing that we look at is the longer-term trend, and recognize that the Euro has been rising for a while, and with this we feel the market will eventually try to reach towards the 0.7750 handle. We believe that the 0.75 level below is massively supportive, so having said that as long as we are above that level we are buyers only. We have no interest in selling at this point.

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