EUR/GBP Forecast February 27, 2017, Technical Analysis

The EUR/GBP pair rallied during the day on Friday, as we continue to see a lot of choppiness. I believe that we are gradually grinding our way to the downside, so at signs of exhaustion, I am willing to sell this pair. I think that the 50-day exponential moving average, pictured in red on my chart, will continue to be dynamic resistance in a market that should show quite a bit of negativity if we can break down to a fresh, new low as it triggers a massive head and shoulders on the weekly chart.