EUR/GBP Forecast April 7, 2017, Technical Analysis

The EUR/GBP pair continues to be very choppy, forming a neutral candle during the Thursday session. The 0.85 level offered support as you would expect, but the 100-exponential moving average above offered resistance. Because of this, it’s likely that we continue to grind sideways and the short-term, in a rather directionless type of trading range. Currently, I’m waiting for some type of impulsive daily candle to start putting money to work in this market, but it must be kept in mind that this is Ground Zero for all things “Brexit”, and therefore headline risk is always there. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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