Technical Analysis – EURGBP downtrend converges to 200-EMA
Posted on November 4, 2020 at 3:02 pm GMTEURGBP has been steadily swinging downwards within a tight descending channel since mid-September, bringing the 200-day exponential moving average (EMA), which successfully curbed negative movements in the same month, back under the spotlight. There is a potential for an upside correction in the short term as the price is hovering around the lower Bollinger band and the Stochastics are sloping upwards after posting a bullish cross within the oversold area. However, unless the 20- and 50-day EMAs, and the upper [..]