EUR/GBP Forecast June 14, 2016, Technical Analysis

The EUR/GBP pair went back and forth during the course of the day on Monday, testing the 0.80 level for resistance. We found it there, and ended up forming a massive neutral candle, which looks a little bit along the lines of a shooting star as well. However, there’s a lot of support just below, so I feel that the market will offer buying parish time we pullback and eventually we will break above the 0.80 level and continue to go even higher. This of course will be beholden to headlines coming out of the United Kingdom dealing with the EU referendum, so expect volatility.

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