EUR/GBP Forecast October 26, 2016, Technical Analysis

The EUR/GBP pair initially rallied during the day on Tuesday, but found the 0.90 level above to be a little bit too resistive. However, I do think that eventually we get to the 0.90 level, and then eventually break above there as well. I think pullbacks continue to be supported but it is going to be very choppy, so we may have to attempt several times to finally break out. I believe that the 0.87 level below is essentially the “floor” in this market overall, and with that I believe that the longer-term trend eventually continues.

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