EUR/GBP Forecast December 2, 2016, Technical Analysis

The EUR/GBP pair fell initially on Thursday, but turned around to form a massive hammer. The hammer of course is a bullish sign but I think it will only offer selling opportunities above on signs of exhaustion. A break down below the bottom of the hammer of course is a selling opportunity as well. I believe that the 0.8350 level will continue to be tested to see whether it can hold as support. I have no interest in buying this pair, at least not until we break above the 0.87 level which would be a very bullish sign.