EUR/GBP Forecast March 22, 2017, Technical Analysis

The EUR/GBP pair rallied during the day on Tuesday, but turned around to form a negative candle. I believe that a breakdown below the bottom of the candle should send this market looking for the 50-day exponential moving average, pictured in red on this chart. A break above the top of the candle would be very bullish, so we have the parameters necessary for placing trades. The 0.8500 level below should be supportive, and essentially the bottom of the market currently. One thing you can count on is quite a bit of choppiness.