EUR/GBP Forecast December 6, 2016, Technical Analysis

The EUR/GBP pair initially dipped on Monday, but turned around to form a strong candle to the upside. I think that this is the bounce that we have needed to see to have a little bit more of an orderly selloff. I believe that this rally will offer a nice selling opportunity on signs of exhaustion, and that’s exactly what I’m waiting for, and exhaustive daily candle. Ultimately, this is a market that features a couple of soft currencies, but I still believe that the Euro is in much more danger than the British pound.