(0,8435) EUR/GBP confirmed a nice rebound and a strong closing above the tops of the previous sessions but also above the resistance of the inside day at 0,8430 suggesting further s/t strength. The move up is still corrective but a daily closing tonight above 0,8444 could already suggest a s/t bottom is in place. The indicators of the daily chart are still negative but those of the s/t ones turned all positive still supporting further possible strength. However, overbought conditions in the hourly chart and potential negative reversals could postpone further strength. We prefer waiting before trying a short position because we could still see an overshooting toward 0,8500/20.
Read the full report: EURGBP 09.20
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