EUR/GBP Forecast June 10, 2016, Technical Analysis

The EUR/GBP pair fell during the day on Thursday, but remains well within the consolidation area that we had been in recently. With that being the case, we are simply standing on the sidelines as this is a market that isn’t quite ready to produce an action will trade signal yet. We actually prefer the upside over the down, only because of the impending vote on whether or not the Britons will stay within the EU. However, we recognize that there are easier trades out there to be had at the moment.