EUR/GBP Forecast January 24, 2017, Technical Analysis

The EUR/GBP pair initially tried to rally during the session on Monday. However, we turned around to fall a bit and reach towards the 0.86 handle. I believe that the market will continue to go long from here, but the 0.85 level will probably offer support. Sooner rather than later I would expect to see some type of support of candle, but we should wait and see whether we get that on a daily close. If we do, then I am willing to go long. Until then, I believe that the short-term sellers will continue to run the show.

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