EUR/GBP Forecast September 9, 2016, Technical Analysis

The EUR/GBP pair rose during the day on Thursday, slamming into the 0.85 level. That area did offer little bit of resistance though, so we pulled back. Ultimately though, I believe that we will break above there given enough time, as the British pound is very soft in general. Given enough time, I believe that the market will then reach towards the 0.8750 level again, as there are no real signs of improvement in the British pound longer term. Pullbacks offer support should be thought of as value in my estimation in this market.

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