Sasha Singh
All posts from Sasha Singh
Sasha Singh in Sasha Singh,

EURGBP : Trading in Over Bought Zone, Gain Seems Limited

(EURGBP : 4 Hour Chart)

EURGBP is currently testing the support at .8127 and resistance from 100 day SMA. The pair already broken the 50 day SMA giving a bullish signal but the gains in the pair seems limited as it is already trading in the overbought zone. This might prevent the pair to move above the 100 day SMA.

(EURGBP : Daily Chart)

Looking at the broader time frame that is on the Daily chart the pair seems like experiencing resistance from the falling resistance trend line and therefore might not be able to surge beyond this. So the pair should decline from this resistance level. Overall the trend in EURGBP still remains Bearish.