EUR/GBP Forecast December 21, 2016, Technical Analysis

The EUR/GBP pair went back and forth on Tuesday as we continue to see very little in the way of action. The 0.83 level below continues to be massively supportive so it’s not until we break down below that level that I’m willing to sell from a longer-term perspective. I believe that rallies offer selling opportunities going forward, based upon exhaustive candles. However, we have obviously not seen that so the market could be fairly sideways for the rest of the year as liquidity drops due to the holiday season and of course most people not wanting to be bothered with the market.

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