EUR/GBP Forecast October 27, 2016, Technical Analysis

The EUR/GBP pair initially tried to rally during the day on Wednesday, but turned around to form a slightly negative candle. Because of this, I believe that the market may still have to pull back from time to time in order to build up enough momentum to break above the 0.70 level. Ultimately, the 0.87 level below is considered to be the “floor” in this market as the uptrend should continue, but we do have a significant barrier in the form of the 0.90 level above. With this, I am a buyer only and have no interest in selling.