EUR/GBP Price Forecast December 28, 2017, Technical Analysis

The EUR/GBP pair should continue to be bullish, based upon the stability of the European Union against the questions around the United Kingdom. I believe that the market will continue to be very choppy, because it is going to be slave to the headlines coming out of the negotiations, but given enough time I think we should get some clarity, and one that clarity comes to the marketplace it should be good for the overall attitude of the uptrend. The 0.88 level underneath continues to be massively supportive, so if we break down below there it’s likely that the market could go much lower. I think that a break below the 0.88 level would be rather surprising, as it could send the market down to the 0.86 level after that. I think that the market continues to be a bit thin between now and the beginning of new year trading, so sudden and erratic movements could happen, and in the meantime, I would not read too much into what happens over the next couple of sessions. I still have an upward attitude when it comes to this market, and I think that given enough time the buyers will give us an opportunity to jump on the uptrend and ride towards the 0.93 level.

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