EUR/GBP Forecast September 18, 2017, Technical Analysis

The EUR/GBP pair fell again on Friday, slicing down towards the 0.88 handle. However, this is an area that is massively supportive on the longer-term charts, and also is starting to show signs of life towards the end of the Friday session. Because of this, I think that the market will probably bounce, and I am more than willing to take a position here. That doesn’t mean that it can’t fail, just that the risk to reward ratio for a bounce in a move to the upside is fairly strong. Remember, you can only trade the probabilities, not the certainties. If we do breakout, then we go much lower.