EUR/GBP Forecast April 26, 2017, Technical Analysis

The EUR/GBP pair initially fell on Tuesday, but found enough bullish pressure to break above the 0.85 level. Because of this, it looks as if the market is going to try to grind higher and perhaps towards the 0.86 handle. If we broke below the bottom of the Monday hammer, that would be bearish and I think we would try to fill the gap at that point. Expect a lot of volatility, and quite frankly I’m on the sidelines when it comes to this market as I expect an extraordinarily high amount of volatility.