EUR/GBP Forecast August 29, 2016, Technical Analysis

The EUR/GBP pair initially tried to rally during the day on Friday but turned right back and around to form a slightly negative candle. With this being the case, the market looks as if it is trying to figure out what once to do with the 0.85 level. I think this is an area that could offer quite a bit of support, but at this point in time we don’t have much in the way of volume. As long as we don’t have much in the way of volume, I’m not expecting anything along the lines of a larger move but I do have more of an upside bias given enough time.

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