EUR/GBP forecast for the week of October 10, 2016, Technical Analysis

The EUR/GBP pair broke higher during the course of the week, slicing through the 0.90 level. However, that area did offer a bit of resistance, so with that being the case it’s likely that the market will have to back up a little bit in order to continue going long. I believe that the 0.87 level below is supportive, and as a result it very likely that pullbacks will be considered to be value buying the marketplace, and as a result I have no interest in selling this market at this point in time.