EUR/GBP Forecast May 25, 2016, Technical Analysis

The EUR/GBP pair broke down during the course of the session on Tuesday, making a fresh, new low. Because of this, and the fact that we have broken down below a couple of hammers, it looks as if we are ready to fall apart. At this point in time, we have a target of 0.75, and believe that the sellers will go looking for that area. Short-term rallies that show signs of exhaustion should be nice opportunity start selling. The candle is very long, and that of course signals that there is real conviction in the selling pressure.

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