EUR/GBP Forecast December 8, 2016, Technical Analysis

The EUR/GBP pair rallied during the day on Wednesday, but still has quite a bit of resistance above to continue going higher. The 0.87 level above is essentially the “ceiling” in this market, so I think any type of exhaustive candle is a nice selling opportunity. An exhaustive candle is more than likely going to signal that we’re going to continue the longer-term target. Ultimately, the 0.83 level below will be targeted again, so having said that I think that it represents a longer-term selling opportunity when we do get the exhaustive candle above that should appear soon. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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