EUR/GBP Forecast April 5, 2017, Technical Analysis

The EUR/GBP pair tried to rally during the day on Tuesday but found enough resistance at the 100-exponential moving average to turn things around and form a week looking candle. I believe that we may try to drop towards the 0.85 handle, and that the choppiness should continue. This pair’s going to be very difficult to deal with and sensitive to headline risks as it is Ground Zero for the British leaving the European Union. Alternately, if we can break above the 2 moving average is on the chart, I believe that the market will probably reach towards the 0.8750 handle.

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