EUR/GBP Forecast November 16, 2016, Technical Analysis

The EUR/GBP pair rallied on Tuesday, reaching towards the 0.87 handle. That’s an area that was previously resistive, and it appears that it’s going to be yet again. If we can break above there, I feel that the market will then grind towards the 0.89 handle. At this point, I believe that the market is going to continue to struggle to find any real clarity, so at this point I’m on the sidelines. The market should continue to be very choppy, so you might be best served trading either the Euro or the Pound against other currencies.

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