EUR/GBP Forecast February 19, 2016, Technical Analysis

The EUR/GBP pair fell slightly during the course of the session, and as a result we tested a significant amount of support. A bounce from there of course formed a little bit of a hammer, and as a result it looks as if this market is ready to go higher at this point in time, perhaps eventually breaking out and reaching towards the 0.80 level. Even if we break down below here, we think that there is more than enough support all the way down to the 0.75 level to keep the buyers interested.

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