EUR/GBP Forecast October 18, 2016, Technical Analysis

The EUR/GBP pair rose slightly during the course of the session on Monday, using the 0.90 level as support. Ultimately, there is more than enough resistance above to continue to make this a choppy market, but over the longer term we are most obviously positive, so I am a buyer every time we pullback and show signs of support. I have no interest in selling, and believe that we will eventually reach back to the 0.9250 level above. I believe that ultimately the absolute “floor” in the market is somewhere near the 0.87 level below.

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