EUR/GBP Forecast December 7, 2016, Technical Analysis

The EUR/GBP pair initially fell during the day on Tuesday, but turned around to form a hammer. On a break above the top of the hammer, the market will trying to dig into the massive noise all the way up to the 0.87 handle. An exhaustive candle above is a selling opportunity and that’s exactly on going to look at it. I have no interest in buying, I believe that it is going to be very difficult to continue to go higher. If we break down below the bottom of the hammer would be a selling opportunity as well.

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