EURGBP analysis on dated 29-7-2019

408

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is above its 20 and 50 day moving average’s [Respectively at 0.89900 and 0.89750]

Type: Intraday analysis

Recommendation: Buy/Buy limit @ 0.89700 Target: 60 pips

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