EUR/GBP Forecast September 1, 2016, Technical Analysis

The EUR/GBP pair fell initially during the day on Wednesday, but found quite a bit of support just below the 0.85 level as expected. The fact that we have done that, the market looks like it is ready to bounce from here and perhaps reach towards the 0.87 level. Ultimately, this is a market that should continue to go higher, mainly due to British pound weakness more than anything else. Ultimately, this is a market that should continue to see bullish pressure, but it’s also a market that tends to be very choppy and make short-term moves.

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