EUR/GBP Forecast October 7, 2016, Technical Analysis

The EUR/GBP pair broke higher during the course of the day on Thursday, testing the top of the up trending channel. We did break above the top of the shooting star from the previous session, so that’s very bullish, and as a result we could very well find yourselves going much higher. On the other hand, I do think that a pullback at this point in time will simply offer a buying opportunity below, somewhere near the 0.87 level. I think that selling is almost impossible at this point in time, although we are a bit overextended.

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