EUR/GBP Forecast January 13, 2017, Technical Analysis

The EUR/GBP pair initially fell on Thursday but turned around to form a supportive candle. We broke above the 0.87 level, but not above the shooting star from a couple of sessions past. Because of this, I’m going to wait until we break above that shooting star to go long. The meantime, we form an exhaustive candle or break down below the bottom of the range for the Thursday session, I would be a seller. Regardless what happens I think you can count on volatility if nothing else. Ultimately, both currencies are volatile.