EUR/GBP Forecast November 1, 2016, Technical Analysis

The EUR/GBP pair did very little during the day on Monday as we continue to bang around the 0.90 level. This is an area that should be significant resistance based upon the historical precedents of it, but given enough time we could break out much higher. It will take quite a bit of momentum building, so we have to look at pullbacks as potential value in a market that is in such a strong uptrend. I believe that the 0.87 level below is essentially the “floor” in this market. With that, I have no interest in selling.

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