EUR/GBP Forecast July 14, 2016, Technical Analysis

In this pair, there has been a significant amount of noise just below current levels, and therefore it doesn’t really surprise me that the market bounced amid during the day. Once we break above the 0.850, I think we will continue to go much higher, perhaps reaching towards the 0.8750 level over the longer term. This is a pair that should continue to favor the Euro in the meantime, simply because somebody people are afraid of owning the British pound. Nonetheless, this isn’t one of my favorite pairs but I do recognize that it is a very bullish trend.

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