EUR/GBP Forecast December 9, 2016, Technical Analysis

The EUR/GBP pair initially rallied on Thursday but fell as the Euro got sold off in general. After all, the ECB has extended quantitative easing buying extra 9 months, and that of course is going to be negative when it comes to the value of the currency. We should continue to go lower from here, perhaps reaching down to the 0.83 level underneath. Every time we rally, I’m looking to sell anyway, so this only is more fuel to the fire so to speak. Have no interest in buying, and believe that the Euro will continue to fall over the longer term.

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