EUR/GBP Forecast January 16, 2017, Technical Analysis

The EUR/GBP pair rallied during the session on Friday, but found a bit of resistance above. Ultimately, the market found a shooting star being printed, and then of course suggests that the sellers could be involved. However, there is a significant amount of support just below, so I’m not willing to sell this market until we break down below the 0.8650 handle. Alternately, if we break above the top of the shooting star for the session on Friday, I believe the market goes much higher. Either way, expect a lot of choppiness in this pair as per usual.