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.

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