(0,8448) EUR/GBP confirmed a strong closing last night above the top of Friday’s positive day reversal. We have a s/t bottom but only a daily closing tonight above 0,8452 will support further strength. While above 0,8430 on an hourly closing we favour an extension of the move up toward the 200 hours line, now found at 0,8468. The indicators of the daily chart are still well negative but those of the s/t ones turned above the line supporting the rebound. In the hourly chart we have already overbought conditions and potential negative reversals. Nevertheless we try to wait for a possible extension toward the 200 hours line before selling. We sell a 0,8470 overshooting!
Read the full report: EURGBP 09.10
Future Trend