EUR/GBP Forecast November 18, 2016, Technical Analysis

The EUR/GBP pair fell on Thursday, as we continue to see bearish pressure. However, there are several areas of support just below so it’s very difficult to short this market. If we can break above the 0.87 level above, I think the buyers will come back into the marketplace. Even if it would continue to fall, I think there are much easier ways to trade the Euro and the Pound against other currencies as opposed to each other. With this, I remain on the sidelines and therefore not willing to risk any significant amount of money.

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