EUR/GBP Forecast February 22, 2016, Technical Analysis

The EUR/GBP pair went back and forth during the day on Friday, as we continue to find support somewhere near the 0.77 handle. However, the weekly chart did form a bit of a shooting star so we could drop from here. Nonetheless, we would simply look at that as a potential buying opportunity as the 0.75 level below is will we considered to be the “floor” in this market. With this, we are simply waiting for a supportive candle that we can start buying, or a break out above to a fresh, new high. We have a target of 0.80 over the longer term.