EUR/GBP Forecast February 12, 2016, Technical Analysis

The EUR/GBP pair broke higher during the day on Thursday, as made a fresh, new high. Ultimately, the market looks as if it is going to continue to reach towards the 0.80 level given enough time. We are buyers on dips, and recognize that selling is almost impossible. Every time this market pulls back, you have to think that the Euro is showing value. We think that the 0.75 level is essentially the “floor” in this market, and having said that it’s probably only a matter of time before the buyers step into this market regardless.