EUR/GBP Forecast April 17, 2017, Technical Analysis

The EUR/GBP pair fell slightly on Friday as we test the 200-day exponential moving average. If we can break down below the uptrend line, that would be very negative and send this market much lower. They move below the 0.84 level would be huge, and have me shorting this market drastically. Alternately, if we see some type a supportive candle or a bounce, then I believe that we will bounce towards the 0.86 handle above. Nonetheless, I think the downside is starting to look very interesting, and can perhaps be a sign that we are ready to make a move.