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EUR/GBP short-term extreme overbought

By : Mex Group

EUR/GBP short-term extreme overbought

12 September 2016, 05:01

The 4hr RSI was printing below 50% most of the last three weeks and recently broke above the 60% mark.

EUR/GBP was in sell mode -the 50SMA placed below the 200SMA on 4hr charts-, until it failed to cooperate with these trend indicators. Now the oscillators point to a short-term extreme overbought zone which may allow sellers to adhere to a continuation move with the prevailing down trend.

However, should the pair extend its recovery from multi-week lows into a new trend, short positions may require a contingency plan.

EUR/GBP 0001-01-01T00:00:00
0/0 (0%)
H0 L0

S3S2S1R1R2R3
0.8443733255068 0.8450866540273 0.8455233375231 0.8466733495394 0.8473866780598 0.8478233615557

Trend IndexOB/OS Index
Bearish Neutral