EUR/GBP Forecast April 11, 2017, Technical Analysis

The EUR/GBP pair went back and forth on Monday, as we continue to be very tight. The 0.85 level underneath should continue to be supportive, and the 0.86 level above should be resistance. Unless you are a very short-term trader, it’s difficult to trade this market. I believe this may be the way going forward for the next several sessions as we continue to worry about headlines coming out of the United Kingdom and the European Union as the 2 divorce. Ultimately, we will have to make some type of impulsive move, but we don’t show any signs of it at the moment.

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