EUR/GBP Forecast March 6, 2017, Technical Analysis

The EUR/GBP pair rallied a bit during the day on Friday, as the 50-day moving average is looking to add support to this market. In fact, although I expect a lot of choppiness above, looks as if we are going to attempt to grind to the upside. This could be in reaction to the impending Article 50 being triggered, but I believe at that point in time the bearish pressure for the British pound will be all but done. In the meantime, I think that short-term buyers will continue to jump into this market. I am not a fan of this pair though, but I recognize the bullish pressure has taken over.