The EURGBP pair, strongly bullish since the beginning of the year, has experienced a corrective movement for several days which seems to end on the 50% level of Fibonacci. The increased volatility and the exceeding of the moving average at 7 sessions point to a resumption of the upward trend on the pair. Investors may therefore take position to buy to aim for a return on the moving average at 20 sessions with a stop loss placed below the last lows.
Direction: Up
Entry: 0.8488
Stop-loss: 0.8400
Take-profit: 0.8550
