EUR/GBP forecast for the week of October 27, Technical Analysis

The EUR/GBP pair fell during the course of the week, but did not break down below the bottom of the shooting star from the previous week. Because of that, it appears that the market should continue to go lower, but support is just below so we aren’t overly keen to be involved in this market from a longer-term perspective. That being said, we are going to stay on the sidelines and we for some type of impulsive candle in order to trade from a longer-term perspective, although we do recognize that the market is bearish.