EURGBP: Significant upside potential on the short term.

8 Eki

EURGBP is neutral on its 1D techhnical outlook (RSI = 48.804, MACD = -0.002, ADX = 22.675) as it consolidates having failed to cross over the 1D MA50. Given the 1 year Channel Down pattern, the 1D MA50 shouldn't stand as a Resistance for long, since the price is having this rebound after a clear LL on its bottom. We expect the 1D MA200 to be tested (TP = 0.8500) with the upside potentially extending as high as +2.80%.

See how our prior idea has worked out:

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