(0,8494) EUR/GBP confirmed another strong closing last night after a test above 0,8515. This extension of the correction is disturbing and it could lead to further s/t strength postponing our expected decline toward 0,8350! The indicators of the daily chart are however still negative while those of the s/t ones are showing a mixed picture supporting further consolidation. The move above 0,8500 started however sforming bearish divergences in the hourly chart suggesting a positive tone and this could cause further strength for sure for a test of the resistance line at 0,8520. Only an hourly closing below 0,8475 will postpone further direct strength suggesting a deeper correction with the 200 hours line at 0,8451 the attraction; this possible decline has however to be considered as a correction and therefore as a buying opportunity!! We stay on the sideline for a moment.
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