EUR/GBP Forecast December 16, 2016, Technical Analysis

The EUR/GBP pair fell at the open on Thursday, but found enough support just above the 0.83 level to turn around and form a bit of a hammer. This of course is an area where you would expect to see it, so I’m not surprised that happen. If we can break down below the 0.83 level, the market should then break down to the 0.80 level. Any rally now should be a nice buying opportunity, so with this being the case I feel that if we break above the top of the hammer, we simply will have to look for exhaustive candle so we can sell yet again.