EUR/GBP: Our expectations: Mid-term uptrend movement with retracement to horizontal and diagonal levels where we expect a new long with the big bullish bar.
Alternative scenario: If the price goes below the support around 0.85900, a new downward movement is possible.
Comment: The bullish trend remains after the euro remains strong and supported by fundamental expectations for ECB action to reduce incentives/QE to the economy.
50/200 SMA in bullish formation
DeM(14) indicator is near the oversold zone but still not in there which confirms our expectations for a long.
Senan Fuchedzhiev - Trader
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