EUR/GBP Forecast November 29, 2016, Technical Analysis

The EUR/GBP pair initially rallied on Monday, but turned around to form a less than impressive candle. There is quite a bit of noise just above, and as a result I believe that it’s only a matter time before the sellers get involved, and the 0.87 level above is essentially the “ceiling” in this market. With this in mind, I’m looking to sell, but not at this point as I believe that the market is far too choppy to begin with, especially considering that the market has been difficult and features 2 currencies that have quite a bit of problems behind each of them.