EUR/GBP stays near a key support zone

EUR/GBP stays near a key support zone

EUR/GBP plummeted across the board during April 26th journey, as the sellers have been actively pushing the pair to the downside and below the 200 SMA at H1 chart. However, bears are being capped by the Fibonacci level of 65% at 0.8679. If a rebound happens around such area, we can expect further gains toward the Fibonacci target of -23.6% at 0.8830. A breakout below 0.8679 should expose the 0.8656 zone.

RSI indicator remains in the oversold territory, calling for a rebound.

EURGBPH1.png

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