EUR/GBP Forecast October 21, 2016, Technical Analysis

The EUR/GBP pair initially tried to rally during the course of the session on Thursday, testing the 0.90 level above. However, we ended up forming a bit of a shooting star which is a very negative sign. I think that the market will probably pull back from here but there should be plenty of support all the way down to the 0.87 level underneath. Any supportive candle between here and there should be a buying opportunity though, because quite frankly this is a market that has been very bullish lately. On the other hand, if we break above the top of the shooting star that even more bullish.

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