EUR/GBP Forecast January 18, 2017, Technical Analysis

The EUR/GBP pair fell massively during the session on Tuesday, as the British pound shot higher after the Theresa May speech during the day. Ultimately, this is a market that will more than likely find support below though, but with the massive red candle, I believe that it may be a couple of sessions before the buyers return. With this, a supportive daily candle is reason enough to go long, but obviously, we don’t have that yet. There is a lot of noise underneath so after this massive move I don’t know if I want to follow the herd.