EUR/GBP Forecast April 27, 2017, Technical Analysis

The EUR/GBP pair initially tried to rally during the session on Wednesday but found the 0.85 region to be too resistive again. Because of this, looks like we may drop from here and try to fill the gap that formed at the beginning of the week. Short-term traders might be able to start selling, but for myself I’m willing to stand on the sidelines as there is a lot of noise in this general vicinity. With this being the case, I will wait for a longer-term signal to get involved or a significant breakout of the trading range that we are currently in.