RSI is already indicating oversold conditions, which means that sellers might be feeling exhausted from the dive. This oscillator has yet to pull up to indicate a pickup in buying pressure, though.
If that happens, EUR/GBP could still make its way back up to the swing high around the .9300 mark. But if the pound stays strongly supported, the
pair could find its way down to the next floor near .8350.
Also 8700-.8800 levels, line up with the 61.8% and 50% Fibs, respectively.
If that happens, EUR/GBP could still make its way back up to the swing high around the .9300 mark. But if the pound stays strongly supported, the
pair could find its way down to the next floor near .8350.
Also 8700-.8800 levels, line up with the 61.8% and 50% Fibs, respectively.