EUR/GBP Forecast November 28, 2016, Technical Analysis

The EUR/GBP pair rallied on Friday, but gave back about half of the gains. Ultimately, I think this market will try to breakdown but the 0.85 level has offered a bit of support for the short term. As you can see, there a lot of wicks on the previous candles this week, so I think that every time we rally the sellers will continue to get involved. I have no interest in buying this market, and I believe that every time we rally is just going to offer “value” in the British pound.