EUR/GBP Forecast February 4, 2016, Technical Analysis

The EUR/GBP pair initially fell during the course of the session on Friday, testing the 0.75 level. However, the market found enough buyers in that region to turn things back around and form a hammer. It appears that the Euro is going to continue to go higher against the Pound given enough time, but you will have to be willing to sit on the sidelines and deal with a bit of volatility in the process. Ultimately, we do think that this market probably reaches towards the 0.80 level, but it is going to take some time to get there.