EUR/GBP Forecast June 22, 2016, Technical Analysis

The EUR/GBP pair fell during the course of the day on Tuesday, as we broke down below the 0.77 level. This is absolutely “Ground Zero” when it comes to the whole referendum on the United Kingdom either leaving or staying in the European Union, so this is a market that has been favoring the British pound over the last several days as it appears that the differential in the voting analysis has shrunk. Because of this, there has been a little bit of a shift towards the British pound, but at this point in time it’s best to leave this market alone.