EURGBP Will Go Lower! Short!
Please, check our technical outlook for EURGBP.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 0.885.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.883 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Oversold refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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