EUR/GBP Forecast November 10, 2016, Technical Analysis

The EUR/GBP pair initially rallied on Wednesday, but found the 0.90 level above to turn things around and form a resistive candle. Because of this, looks as if the market is going to continue to drop towards the 0.87 handle. At any point time, it’s likely to find buyers, and I believe that they are waiting below. I anticipate that this market will continue to chop around but if we break down below the 0.87 level, we could then reach down towards the 0.85 level. Ultimately, I think that this market will continue to show quite a bit of back and forth.

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