EUR/GBP Forecast September 22, 2017, Technical Analysis

The EUR/GBP pair continues to grind around just above the 0.88 handle, an area that has been important over the longer term. Because of this, I think that the market will continue to find a lot of interest in this general vicinity, but I do recognize that if we break down below the 0.8785 handle, the market will break down significantly. This is a market that continues to be choppy and volatile, and of course continues to be influenced by headlights coming out from the Brexit negotiations. It appears that the Bank of England is probably going to be raising interest rates quicker than many other central banks, and that of course has been one of the main reasons for the bearish pressure in this market.