EUR/GBP Forecast November 21, 2016, Technical Analysis

The EUR/GBP pair had a volatile session on Friday as we continue to bounce around just below the 0.86 handle. This is a market that looks very bearish overall, but I think there’s a lot of noise underneath and therefore it’s going to be choppy as we drift lower. Because of this, I’m going to stand on the sidelines but I also recognize that some short-term traders may be a bit attracted to rallies and show signs of exhaustion to continue to press lower. If we can break above the 0.87 level it could be a buying opportunity though.