EUR/GBP Forecast February 3, 2016, Technical Analysis

The EUR/GBP pair tried to rally during the course of the day on Tuesday, but struggled and ended up forming a shooting star because of this, it looks as if the market is going to continue struggling, but we think there is a significant amount of support near the 0.75 handle. Because of that, the market will sooner or later form a supportive candle that we can start buying. Until it does though, we have no interest in buying, unless of course we break above the top of the shooting star which would also be very bullish. We have no plans on shorting at this point in time.