EUR/GBP Forecast November 11, 2016, Technical Analysis

The EUR/GBP pair fell during the day on Thursday, breaking below the 0.87 level during the day. There is a lot of noise just below though, so a bounce would necessarily be out of the question. At this point, I think it’s easier to trade both the Euro and the Pound against other currencies than against each other. However, it certainly looks as if the sellers are starting to flex their muscles in this market at the moment. With this being the case, if I was forced to take a position it would be short, but I don’t necessarily think it would be a confident trade.