EUR/GBP Forecast February 1, 2017, Technical Analysis

The EUR/GBP pair initially rally during the session on Tuesday, reaching towards the 0.8650 level. This is an area that offered a bit of resistance and we turned around to form a bit of a shooting star. Because of this, we could reach towards the 0.85 level underneath, which of course has been supportive. I think there is going to be quite a bit of choppiness, but if we can break above the top of a shooting star the market will then continue to go towards the 0.87 level. Ultimately, this pair will be choppy as it always is.