Technical Analysis – EURGBP looks to escape from 8-month lows
Posted on February 3, 2021 at 8:29 am GMTEURGBP is seeking shelter around the 0.8800 round-level and near eight-month lows after breaching the tough lower boundary of its seven-month-old range. Although the RSI and the MACD remain comfortably below their neutral levels, discouraging a meaningful rally, they cannot exclude the case of a rebound as the RSI seems to have found a bottom just above its 30 oversold level and the MACD is stabilizing around its red signal line. On the upside, however, there are several obstacles which could cancel any upside correction. The [..]