EUR/GBP Forecast March 2, 2017, Technical Analysis

The EUR/GBP pair fell initially during the day on Wednesday, but found enough support at the 0.85 level to turn around and bounce significantly. Because of this, we are testing the top of what could be a channel, but quite frankly it looks as if the Euro is going to continue to gain based upon the fact that we have closed so high. However, I think we will still have significant problems above. Because of this, it might be best to wait until the daily close to make any type of decision. I will keep you informed as to what I am doing here at Eracash.