EUR/GBP Price Forecast August 17, 2017, Technical Analysis
The EUR/GBP pair initially went sideways during the day on Wednesday, but then fell to reach down towards the 0.91 handle. This is an area where we had seen previous resistance, so it makes sense that the market could find buyers here, and it of course also could follow a slight one-hour uptrend line. With that being the case and the fact that the market has been in an uptrend for some time, I think it makes sense to start buying here. I have a target of 0.92 and the short-term, and I believe that given enough time we will break above there and go looking for the 0.95 level after that. Buying on the dips should continue to be the way going forward, and I believe that the absolute “floor” is probably closer to the 0.90 level underneath.
EUR/GBP Video 17.8.17
This article was originally posted on FX Empire
