EUR/GBP Forecast February 20, 2017, Technical Analysis

The EUR/GBP pair initially tried to rally on Friday but found enough resistance above to turn things around and form a shooting star. The shooting star sits just above the 0.85 level, an area that is supportive. A breakdown below there, should send this market down to the 0.8450 level. Nonetheless, the market looks as if it is going to be volatile as this pair typically ask. If we break above the top of the candle for the Friday session, the market should then go to the 0.8650 level. Either way, it’s going to be a tough fight.