EURGBP analysis on dated 02-10-2019



The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 day moving average’s [Respectively at 0.88900 and 0.88760]

Recommendation: Buy/Buy limit @ 0.88900  Target: 100+ pips