EUR/GBP forecast for the week of September 26, 2016, Technical Analysis

The EUR/GBP pair rallied during the course of the week, testing the highs yet again. I believe that we are trying to go higher, but we may have to pull back a little bit in order to build up momentum. Pullbacks should be thought of as “value”, and with that being the case I feel that this is a market that you can only buy and therefore not sell. I believe that the “floor” in this market is somewhere near the 0.84 handle below. Given enough time, I anticipate that this market will go to the 0.90 level.