EUR/GBP Forecast August 10, 2015, Technical Analysis

The EUR/GBP pair went higher during the course of the day on Friday, as we found more than enough support near the 0.70 level to turn things back around. However, we feel that we are simply going to continue to consolidate, so we are waiting for resistive candles above in order to start shorting again. At this moment though, we do not see a decent selling opportunity, so we will simply sit on the sidelines and wait for it to appear. Ultimately, we feel that it’s probably a market that you will have to be very patient and, but we still believe the downside prevails.