EUR/GBP Forecast April 10, 2017, Technical Analysis

The EUR/GBP pair tried to rally on Friday but found enough resistance at the 100-exponential moving average to turn around and form a shooting star like candle. I believe that the market should continue to chop around in this area, with the 200-exponential moving average just below the 0.85 handle. With this, I believe that the pair might be difficult to deal with, so therefore the choppiness keeps me on the sidelines for the short term. If we can break down below the uptrend line, I would be a seller longer term.

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