EUR/GBP Forecast November 2, 2016, Technical Analysis

The EUR/GBP pair broke higher during the day on Tuesday, clearing the 0.90 handle. However, there is a significant amount of resistance just above, so if you are going to start buying this pair, it is going to be very choppy on the way of but ultimately I do believe that’s where this market is going. This would simply continue the longer-term trend, as it now appears that the buyers have jumped bank into the marketplace once again. I have no interest in selling, I believe that the 0.87 level is the absolute “basement” of the uptrend right now.