EUR/GBP Forecast April 12, 2017, Technical Analysis

The EUR/GBP pair initially tried to rally during the day on Tuesday but found enough resistance to drive down to the 0.85 level. That being the case, I expect to see support in her the market, but it appears that the downside seems to be receiving a little bit more pressure. The 200-exponential moving average is just below, and of course we have the uptrend line from the larger symmetrical triangle. Because of this, I think that short-term rallies that show signs of exhaustion could be short-term selling opportunities, but that’s about it as far as this market is concerned.