EUR/GBP Forecast December 22, 2016, Technical Analysis

The EUR/GBP pair rallied on Wednesday, as we continue to see a bit of support underneath. I think given enough time the sellers will come back though, and with that being the case it’s likely that the market will start selling off at the very first signs of exhaustion above. If we can break down below the 0.83 level, market should then reach towards the 0.80 level underneath which is a massive area on longer-term charts. I have no plans whatsoever in buying this pair, as I believe that the Euro will continue to break down longer term.

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