The EURGBP has been evolving for several weeks in a consolidation pennant and is having difficulties to resume a clear bullish trend. Many divergences appear on the technical indicators including the RSI, in this context, a break through the bottom of the figure is most likely. Investors will therefore wait for a break of yesterday's low which corresponds to the moving average at 20 sessions to take a position.
Direction: Down
Entry: 0.8660 (triggering threshold)
Stop-loss: 0.8700
Holding the position
