EUR/GBP Forecast December 14, 2016, Technical Analysis

The EUR/GBP pair initially fell on Tuesday, but turned around to form a bit of a hammer. I believe that the 0.83 level will continue to be supportive, so a bounce from here should be much to ask. I also recognize that there is a lot of exhaustion above just waiting to happen, so as soon as we get an exhaustive candle, I am a seller. I believe that the 0.87 level above is massively resistive, and because of this I have no interest in buying and believe that sooner or later the British pound will offer “value” that we can figure advantage of. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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