EUR/GBP Forecast August 8, 2016, Technical Analysis

The EUR/GBP pair went back and forth during the course of the session on Friday, testing the 0.85 level which has been massively resistive. With this being the case, the market should continue to try to break out to the upside but as you can see, there has been a little bit of action just above the aforementioned 0.85 level, so with this being the case it’s likely that we may have to pullback in order to build up enough momentum to finally break out to the upside and moving higher for the longer term.

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