EUR/GBP Forecast April 28, 2017, Technical Analysis

The EUR/GBP pair broke down on Thursday, slicing into the gap that had lifted this market previously. The question now is whether or not we can break down below the gap, and if we do I think that would be an extraordinarily bearish sign. That would validate the previous head and shoulders that had broken down. Because of this, I’m on the sidelines but I am very well aware of what’s going on in this market and realize that it could be one of the better trades of the quarter if it triggers.