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EUR/GBP - Positive Reversal (RSI) Signal

A quick look at EUR/GBP shows that it has been in a bullish mode, but retreated in the past week. 

EUR/GBP Daily Chart 8/26

(click to enlarge) 

Positive reversal signal:
- First of all, we can see that there was a bearish divergence between price and the RSI as price tagged 0.8625 then higher at 0.87. The corresponding RSI levels were lower.
- Now, this is usually a signal that momentum is weakening. 
- However, if price is bullish again today, EUR/GBP would have established a support pivot at 0.8485 (a previous resistance pivot).
- If this pivot is established, we would have higher lows, while the RSI shows lower lows. This would be a "Positive Reversal" signal that suggests further upside.

Bullish outlook:
- There is upside risk towards at least 0.88, with 0.90 in sight in the medium-term. 
- The weekly chart below shows that EUR/GBP is in a bullish reversal having broken a falling trendline and trading above the 200-, 100-, and 50-week simple moving averages. 

EUR/GBP Weekly Chart 8/26

(click to enlarge)