EUR/GBP Forecast November 25, 2016, Technical Analysis

The EUR/GBP pair did very little on Thursday as markets were relatively quiet. Ultimately, most markets were quiet since the United States was celebrating Thanksgiving. This is a market that continues to grind lower though, and I believe is reaching towards the 0.8350 level. Any rally this point in time will probably be sold off on signs of exhaustion, but I still believe that it’s going to be choppy at best. It’s a longer-term move waiting to happen, but it’s going to move in slow motion. I don’t have any interest in buying until we break above the 0.87 handle.