EUR/GBP Forecast January 9, 2017, Technical Analysis

The EUR/GBP pair rallied on Friday, as we continue to see a bit of bullish pressure. Ultimately, the 0.87 level above is resistive, but I think currently it’s the target of the market. Any rally at this point in time should be an opportunity to start selling, unless of course we can break above the 0.87 handle. If we do, the market then could go much higher. In the meantime, I am looking for exhaustive candles to start selling. The currencies both are very soft at the moment, and as a result expect quite a bit of volatility.