(0,8572) EUR/GBP confirmed yesterday a session of consolidation forming a new inside day with now 0,8600 – 0,8505 the levels to follow in the coming hours. Only a daily closing below 0,8505 will finally support a decent correction; while above the risk is still on the upside suggesting a 0,8620 overshooting!! The indicators of the daily chart are still well positive but also still well overbought and showing potential negative reversals; those of the s/t ones are mixed to negative supporting some consolidation/ correction. Only an hourly closing below 0,8525 will however support a deeper correction with the 200 hours line at 0,8463 the attraction. While above 0,8565 on an hourly closing we expect a retest of the 0,8590 area with even a possible 0,8600 overshooting! We stay short!
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Future Trend Research