EUR/GBP Forecast June 17, 2016, Technical Analysis

The EUR/GBP pair initially tried to rally during the course of the day on Thursday but found the 0.80 level to be far too resistive to continue going higher. That’s been my target for a minute now, and now that we have found that area we ended up forming a massively negative candle. However, it should be noted that part of this is a reaction to a shooting of a British MP, and the idea that possibly the EU referendum vote could be delayed. With that being the case, I believe that once the markets calm down the uptrend probably continue.

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