EUR/GBP strengthening a bearish bias for the short-term

EUR/GBP strengthening a bearish bias for the short-term

EUR/GBP has been trading within a bearish range below the 200 SMA at H1 chart. As the pair remains off from April 10th lows, we expect a rise to re-test the 200 SMA around the Fibonacci level of 50% at 0.8742. A break above it should expose the highs from April 2nd at 0.8793, which should strengthen the bullish bias for the short-term. However, if the pair breaks below 0.8691,then it can plummet towards the 0.8666 level.

RSI indicator stays in the positive territory.



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