EUR/GBP Forecast December 26, 2016, Technical Analysis

The EUR/GBP pair broke above the 0.85 level on Friday, but still faces quite a bit of resistance going forward. I think given enough time we will have an exhaustive candle above that we can start selling, following the longer-term downtrend. I have no interest in buying this market, and at the first signs of an exhaustive daily candle, I’m willing to start selling again. In the meantime, I’m on the sidelines awaiting my trading opportunity as I am not willing to fight the most recent selloff that looks to be so strong.