EUR/GBP Forecast August 10, 2016, Technical Analysis

The EUR/GBP pair broke higher during the course of the session on Tuesday, breaking well above the 0.85 handle. Because of this, looks ugly are trying to break out to the upside for the longer-term move, but there is quite a bit of noise between here and the 0.8625 handle. Once we get above there, it’s likely that we will continue to go much higher at that point in time and watch the British pound fall apart. Pullbacks at this point in time should continue to find buyers below, so therefore it’s “long only” at this point in time.

Economic Calendar