EUR/GBP Forecast August 3, 2015, Technical Analysis

The EUR/GBP pair rose during the session on Friday, but pulled back at the 0.71 level to turn things back around to form a massive shooting star. Ultimately, the 0.70 level below should be supportive, but if we can break down below there we feel that the next move would be to the 0.6950 level. If we can break down below there, the market should then head to the 0.69 level, and then possibly even lower than that. Remember, this pair doesn’t have to move is much, because the value of each pip is higher.