EUR/GBP Forecast April 3, 2017, Technical Analysis

The EUR/GBP pair initially tried to rally during the day on Friday, but found enough resistance at the 50-day exponential moving average to turn things around and form a negative looking candle. At this point, looks as if were going to reach towards the 0.85 level underneath, which should have psychological ramifications. Currently, this is a market that should continue to be choppy overall as the Article 50 has been triggered, which of course has quite a few people out there understanding just how difficult this market is going to be. Either way, expect difficult trading situations.

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