EUR/GBP Forecast September 22, 2016, Technical Analysis

The EUR/GBP pair initially fell during the course of the session on Wednesday, but turned right back around to form a bit of a hammer. The hammer of course is a bullish sign, but is also preceded by a shooting star, which means in my opinion that we are going to grind back and forth. I do believe in the uptrend now, and with this being the case I believe that we’re going to reach towards the 0.8750 level. A pullback from here should continue to find buyers going forward, as the British pound will continue to be punished for leaving the EU.

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