EUR/GBP Forecast August 18, 2017, Technical Analysis

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The EUR/GBP pair fell from a cliff at the open on Thursday, but found support near the 0.9050 level. We have bounced significantly since then, so I believe that the buyers are coming back in for the longer-term move. Ultimately, this market should go looking towards the 0.92 handle, but we may find ourselves consolidating … Continue reading EUR/GBP Forecast August 18, 2017, Technical Analysis · FX Empire

Christopher Lewis

Updated Thu, Aug 17, 2017, 10:52 PM

The EUR/GBP pair fell from a cliff at the open on Thursday, but found support near the 0.9050 level. We have bounced significantly since then, so I believe that the buyers are coming back in for the longer-term move. Ultimately, this market should go looking towards the 0.92 handle, but we may find ourselves consolidating in the meantime. I still believe in buying dips, and have no interest in shorting because quite frankly there are far too many questions about the United Kingdom going forward. Because of that, I expect to see a significant volatility yet bullish pressure overall. I believe that the 0.90 level underneath should be massively supportive.