EUR/GBP forecast for the week of January 9, 2017, Technical Analysis

The EUR/GBP pair initially fell during the week but turned around to show signs of support. The market has quite a bit of resistance at the 0.87 level above, and as a result I think the sellers could come back at that level. However, if we break above the 0.87 level, the market should then reach to the 0.90 level. The market breaking down below the bottom of the candle for the week would send us looking for the 0.83 level alternately. Regardless, expect quite a bit of volatility.