EUR/GBP Forecast February 5, 2016, Technical Analysis

The EUR/GBP pair rose during the course of the day on Thursday, breaking the top of the hammer from Wednesday. With that being the case, the market looks as if it is ready to go higher, as we are most certainly in an uptrend. We are buyers of short-term dips and of course a break out to a fresh, new high. At this point in time, it looks as if the 0.75 level will end up being the “floor” in this market going forward, and with that being the case this is a “buy only” market.

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