EUR/GBP Forecast October 10, 2016, Technical Analysis

The EUR/GBP pair went back and forth in order to form a bit of a neutral candle. The 0.90 level above is massively resistive, so we may have to pull back a little bit in order to build up enough momentum to continue going higher. I would love to see a pullback as it would represent value in this market. However, if we can break above the top of the candle for the session on Friday, that is probably reason enough to go long as well. I believe at this point in time the 0.87 level below is essentially the “floor” in the market.

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