I'm expecting the ranging period of the last 3 months in the EUR/GBP pair to continue, My forecast is for price to stay near the 0.8550 level.

On the chart below you can see the big picture.



The pair had a massive rally in January and February of this year. It rallied over 500 pips which is a lot for a low volatility pair like the EUR/GBP.

Since then however, the pair has been stuck in a range for the past 3 months, trading between 0.8400 and 0.8636. The 4 hour lower timeframe chart shows the range more clearly.




Past 10 days even saw this range compress further to just 63 pips. The EUR/GBP is now trading between 0.8527 to 0.8600.Furthermore, the incoming summer months period will lead to lower volatility and increased odds for range bound price action. So my forecast is that the EUR/GBP won't move much and will be near 0.8550 on July 1.
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