EUR/GBP Forecast December 1, 2016, Technical Analysis

The EUR/GBP pair rallied at the open on Wednesday, but turned right back around to form a negative candle. I think that there is quite a bit of support below though, so having said that I don’t think that this market is one that can be bought. I believe every time we rally and show signs of exhaustion is time to start selling yet again. I believe that we are reaching towards the 0.8350 level given enough time, and as a result I remain quite negative of this market going forward from here.