(0,8550) EUR/GBP confirmed a sensible correction forming a positive outside day with now 0,8585 – 0,8430 the levels to follow in the coming hours. The move up almost confirmed a 61,8 Fibonacci retracement. The indicators of the daily chart are however still well negative as well as those of the 4h one. Only the indicators of the hourly chart turned above the line showing already overbought conditions and a potential negative reversal situation. However the move up already started forming again bearish divergences. Nevertheless for now we believe in a move lower toward 0,8505. An hourly closing below 0,8540 will support lower levels.
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Future Trend Research