EUR/GBP Forecast February 15, 2017, Technical Analysis

The EUR/GBP pair rally during the day on Tuesday, breaking above the 0.85 level. However, we ran into quite a bit of resistance, and it now looks as if the market isn’t quite ready to go to the upside. If we break down below the bottom of the range though, I think this market will break down and continue to reach towards the 0.8350 level. A break above the highs from last week could send this market towards the 0.8650 level. Volatility will continue to be the way forward, that’s normally the case with this market.