EUR/GBP Forecast November 26, 2015, Technical Analysis

The EUR/GBP pair fell during the course of the day on Wednesday, testing the 0.70 level for support. However, we not only found it there but we did bounce a bit towards the end of the day. With today being Thanksgiving Day in the United States, it’s very unlikely that this market will have a whole lot of volume once we get past the European trading session, so we believe that a short-term bounce could be possible off of the 0.70 level. We have noticed whatsoever in selling, at least not until we break down below the 0.69 level.