EUR/GBP Forecast January 23, 2017, Technical Analysis

The EUR/GBP pair had a slightly positive session on Friday as we continue to bounce around the 0.8650 handle. I believe also that there is a significant amount of support underneath, so eventually we should see some type of support of candle. However, I’m waiting for a daily supportive candle to consider going long on this chart. In the meantime, I’m perfectly content to sit on the sidelines as this is a market that seems to have a lot to think about, as both currencies are essentially soft, so this is a fight between two lightweights.