EUR/GBP Forecast April 6, 2017, Technical Analysis

The EUR/GBP pair fell on Wednesday, finding resistance at the 100-exponential moving average. Because of this, the market will more than likely try to reach towards the 0.85 level today, but I’m not looking for anything major at this point. After all, both economies have a lot of question marks around them as the UK is set to start the negotiation process to leave. Because of this, I think this will be one of the more difficult pairs to trade in the short-term, but longer-term I think that we may see the symmetric triangle on the longer-term charts tell the story. Currently, we are nowhere near breaking through it.