EUR/GBP Forecast July 20, 2016, Technical Analysis

EUR/GBP is a pair that tends to grind from day-to-day. That appears to be what we are doing at the moment, but we most certainly have a bit of an upward bias in this pair. It doesn’t mean that we are going to necessarily be able to break out right away, but the longer-term move seems to be to the upside. This makes sense, because the British pound is essentially on its own way comes to bias in the Forex market. Pullback should have plenty of support, and at this point time I have no interest in selling this market until we break down below the 0.80 handle, something that isn’t going to happen anytime soon.

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