EUR/GBP Forecast February 18, 2016, Technical Analysis

The EUR/GBP pair went back and forth during the course of the day on Wednesday, as we are starting to get quite a bit of exhaustion in this area. The 0.78 level appears to be a bit of a barrier at this point is going to be difficult to break above. On the other hand, we think that every time we pullback it’s going to be a buying opportunity as this uptrend should continue. Ultimately, we believe that the 0.75 level below is the floor in this market, and that we will eventually try to reach the 0.80 handle.