EUR/GBP Forecast March 7, 2017, Technical Analysis

The EUR/GBP pair initially tried to rally during the day on Monday, but turned around at the 0.8650 handle. By doing so, looks as if we are going to pull back and perhaps try to consolidate again. If we break above the top of the candle, the market should then reach towards the 0.88 handle, which was the scene of a previous gap. A breakdown below the bottom of the candle would have me shorting this market, but just for a short-term move. Either way, I think is can be choppy over the next several sessions.