EUR/GBP Forecast November 9, 2016, Technical Analysis

The EUR/GBP pair try to rally on Tuesday but turned around to form a fairly quiet candle. I believe that the psychologically significant 0.90 level above will continue to be resistive, but ultimately this is a market that I think could find quite a bit of support below regardless. I think that the 0.8750 level underneath is usually supportive, so I have no interest in selling until we break below there. I think it’s going to be more or less a “grind” higher at this point. Because of this, I am probably going to sit on the sidelines for the next couple of sessions.

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