EUR/GBP Forecast November 27, 2015, Technical Analysis

The EUR/GBP pair went back and forth during the day on Thursday, as we continue to consolidate just above the 0.70 level. The market now looks as if it is one that is going to be difficult to deal with, but we do think that the easiest trade will simply be waiting for a rally that show signs of resistance that we can sell. The downtrend of course is very strong, and we believe that resistance should continue to be influential all the way to the 0.72 handle. A break down below the 0.6950 level sends this market much lower.