Forex Technical Analysis, EUR/GBP Daily Forecast June 3, 2016
Technical Analysis – The EUR/GBP pair fell a bit during the course of the day on Thursday, as we continue to see volatility. However, we have recently made a “higher high” in this market so if we can break above the top of the range for the Thursday session, I more than willing to start buying again and aiming for or the 0.7925 handle roughly as it is an area of interest. Pullbacks at this point will more than likely find supportive candles as well, and those could be buying opportunities as well. At this point, I’m not overly interested in selling.
In Other View Point – EURGBP Long opportunity
EURGBP seems to present a nice long opportunity if price reaches a bit lower. My bias is bullish, and we have a potential bullish BAT forming with a 1.618 fib extension and an AB=CD pattern completion near the BAT completion. Nice risk/reward on this one too. Today is NFP, so be careful out there. And always conduct your own analysis before placing any trade.