EUR/GBP Forecast June 23, 2016, Technical Analysis

The EUR/GBP pair bounce slightly during the day on Wednesday, as it appears that participants are simply waiting to see whether or not the UK remains or leaves the EU. This is essentially going to be “Ground Zero” when it comes to that vote, so this is a market that I would be very hesitant to place money into. Every rumor, exit poll, and whisper on the news channels will probably move this pair, so having said that you will have to trade it with extreme caution. For us, we think it’s easier to simply trade other currency pairs today.