EUR/GBP Forecast May 26, 2016, Technical Analysis

The EUR/GBP pair fell slightly during the course of the day on Wednesday, but turned around to form something akin to a hammer. What frankly though, we believe that any bounce at this point in time will face a significant amount of resistance above, so this bounce should just simply end up being another selling opportunity above. A resistive candle is exactly what we look for, but we would also be sellers of a break down below the bottom of a hammer as it could drive this market towards the 0.75 level.

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