EUR/GBP Forecast March 28, 2017, Technical Analysis

The EUR/GBP pair fell during the day on Monday, but found enough support at the 50-day exponential moving average to turn around and form a hammer. The hammer of course is a very supportive candle, and a break above the top of it should send this market towards the 0.8750 level above. If we break down below the bottom of the hammer, then the markets will more than likely reach towards the 0.85 level underneath. Ultimately, this is a market that will see a lot of volatility, as it is the epicenter of the Article 50.

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