(0,8730) EUR/GBP confirmed a strong closing last night well above the resistance of the inside day at 0,8695. This closing is favouring an extension of the move up that we still consider as corrective but we have also to say that at the present levels the cross confirmed an overshooting of the 61,8 Fibonacci level!! The indicators of the daily chart are still well negative but those of the s/t ones turned all above the line suggesting further upside potential. In the hourly chart we have however overbought conditions and potential negative reversals. At the same time the move up started however also to form bearish divergences putting into question our s/t suggested scenery!! Possible declines will therefore be buying opportunities, especially close to the 200 hours line, now found at 0,8646. We prefer staying on the sideline waiting for further confirmations.
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Future Trend Research