(0,8486) EUR/GBP is confirming further strength with the slope of the move up getting now a little too steep and dangerous possible at this point a 0,8500 overshooting where we expect however good resistance.The indicators of the daily chart are still well positive but now well overbought and showing potential negative reversals; those of the weekly chart start also showing overbought conditions!! The indicators of the s/t charts are also positive but overbought. We of course don’t rule out further strength while bearish divergences are showing up in the hourly chart; nevertheless we believe it’s well overdone and expect a firm correction. We further increase our position in case of a 0,8500 overshooting!!
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Future Trend Research