EUR/GBP Forecast February 24, 2016, Technical Analysis

The EUR/GBP pair fell initially during the course of the day on Tuesday but found enough support below to turn things around and form a very supportive looking candle. We are buyers of this pair on short-term pullbacks, and realize that the markets probably going to aim for the 0.80 level above. We have no interest whatsoever in selling this market, and we believe that the 0.77 level below should remain the “floor” in this market. Given enough time, we believe that the buyers will return again and again as the British pound looks extraordinarily soft.