(0,8491) EUR/GBP confirmed a strong closing last night above the tops of the previous few sessions, move that favoured already a 0,8500 overshooting. Still possible a further extension of this correction before however turning again lower for a move toward 0,8350!! Overall the cross is still interior the inside day with 0,8495 – 0,8395 still the levels to follow in the coming hours. Only a daily closing above 0,8495 will support higher levels!! The indicators of the daily chart are still negative but those of the s/t ones are positive supporting further strength. In the hourly chart we have however overbought conditions and potential negative reversals suggesting a limited upside potential. Before moving lower we could however see an extension toward the resistance line at 0,8525 where we expect good resistance!! We sold already last night our position at 0,8487. We go short in case of a 0,8520 overshooting!!
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