EUR/GBP Forecast March 2, 2016, Technical Analysis

The EUR/GBP pair initially fell during the day on Tuesday, but turned back around to form a somewhat supportive candle. The reality is that the 20 day exponential moving average has been offering dynamic support, and it looks like we will more than likely try to go higher. If we can break above the top of the candle during the course of the session on Tuesday, we believe that the market will make yet another attempt to get above the 0.80 level. That level should be resistive, but eventually we feel that this pair will probably break out above there as well.