EUR/GBP Forecast May 9, 2016, Technical Analysis

The EUR/GBP pair rose during the course of the session on Friday, showing signs of strength. The 0.79 level was tested for resistance, but as you can see we still have a shooting star to contend with from the Wednesday session. That being the case, rent wait until we get a rally above the Wednesday highs to start buying. Pullbacks at this point in time will more than likely be supportive though, so having said that it’s likely that this can only be bought, but will have quite a bit of volatility attached to it.