EUR/GBP Forecast February 29, 2016, Technical Analysis

The market fell significantly during the course of the day on Friday, but turned back around to form a bit of a hammer. That being the case, looks like we are going to continue going higher and reach towards the 0.80 level. Once we do, there will be a significant amount of resistance, but it does look like we can take a short-term long position based upon a move above. We have no interest whatsoever in selling this market, there seems to be more than enough support below to continue to keep this market elevated.

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