(0,8454) EUR/GBP confirmed again a weak closing that favoured a return toward 0,8450 as expected. However, only a daily closing tonight below 0,8435 will confirm a s/t top supporting the resumption of the decline for a possible drop below 0,8400, scenery that we still favour!! The indicators of the daily chart returned already negative as well as those of the s/t ones where the drop started even forming bullish divergences. While below 0,8465 on an hourly closing we favour a break below 0,8430 suggesting a move down toward 0,8350!! However in the hourly chart we have also potential positive reversal after the formation of bearish divergence son the way up. Therefore we have a very mixed picture in the s/t charts. We stay on the sideline for a moment waiting for confirmations
Click here to read the full report: EURGBP 05.16
Future Trend