EUR/GBP Forecast May 17, 2016, Technical Analysis

The EUR/GBP pair fell slightly during the course of the session on Monday, as we continue to find support near the 0.7850 level. There is quite a bit of support just below there as well, so we do think that eventually the buyers will try to return, but this point in time the markets a bit too tight for us to risk any real money trying to trade it. We have an upward bias, but that’s about as strong of a statement as we can make concerning this market currently as we drift sideways.