Quotes of the currency pair euro pound EURGBP complete trading week near the end of the right shoulder forex head and shoulders pattern. From current levels we can expect the fall of quotations EUR/GBP at the current trading week 05.16.2016 — 05.20.2016 for the purpose of breaking through the level of the neck line and attempt to continue falling in the framework of working out a reversal pattern.
Forecast EUR/GBP for the week 16 — 20 May, 2016
The immediate goal of the fall is the area at the level of 0.77. Cancellation option can become a strong growth of quotations and penetration level of 0.81, which provoke the growth of the euro the pound pair to the local maximum and above.
Thus, Forecast EUR/GBP for the week 16 — 20 May, 2016 suggests quotations falling attempt within start working out a reversal forex head and shoulders pattern.