EUR/GBP Forecast July 25, 2016, Technical Analysis

The EUR/GBP pair went back and forth during the course of the day on Friday, essentially forming a slightly positive candle. Ultimately though, this is a market that looks like it’s essentially stuck in consolidation at this point in time. I believe that we eventually go higher, so short-term pullbacks might offer buying opportunities, but quite frankly this is a market that I am very happy to be on the sidelines in at this point in time. After all, there are easier trades out there to place at the moment after the British vote.