EUR/GBP – Correction could gather traction on bearish divergence
Pair’s retreat from today’s high of 0.9068 if followed by a daily close below 5-DMA level of 0.9034 in the light of bearish price RSI divergence on the 4-hour chart would signal a much deeper retracement to 0.8850 (Oct 6 high).
On the higher side, only a daily close above 0.9142 (Oct 11 high) would signal continuation of the long-term rising trend.
On the higher side, only a daily close above 0.9142 (Oct 11 high) would signal continuation of the long-term rising trend.
