EUR/GBP Forecast July 13, 2016, Technical Analysis

The EUR/GBP pair broke down during the day on Tuesday, but I still believe that there is quite a bit of support below, somewhere near the 0.72 level. Below there, I see the absolute “floor” in the market at the 0.80 level, so any type of supportive candle should be a buying opportunity going forward. Ultimately, this is a market that should continue to rise over time but this pullback has been needed for some time in order to build up momentum. I don’t have any interest whatsoever in selling this market at the moment although the candle for the Tuesday session has been very strong.

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