EUR/GBP Forecast October 12, 2016, Technical Analysis

The EUR/GBP pair initially fell during the course of the day on Tuesday, but found enough support at the 0.90 level below to turn things back around and form a bit of a hammer. A break above the top of the candle should be an opportunity to start going long yet again as this market has been in such a strong move to the upside. The British pound of course is being punished for the exit though, so I believe that this market will continue to go much higher, perhaps reaching towards the 0.92 level above.