EUR/GBP Forecast November 4, 2016, Technical Analysis

The EUR/GBP pair fell significantly during the day on Thursday, as the British pound rose due to the fact that the Bank of Japan failed to add to quantitative easing. With this, we reach down to the 50-day exponential moving average, which is a moving average that a lot of longer-term traders will pay attention to. Any bounce from here should send this market looking for the 0.90 handle, and I would also suggest that the 0.87 level below is going to be the “floor” at this point in time. I have no interest in selling.

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