EUR/GBP created a classic doji candle yesterday, signaling indecision in the market place. A close below 0.8666 today would signal a continuation of the sell-off from the Feb. 14 high of 0.8840. A close above 0.8704 (previous day’s high) would confirm the bull doji reversal.
Looking at the hourly chart, a daily close above 0.8704 looks likely.
- As seen above, the pair has crossed the trendline sloping downwards from Feb. 14 highs and relative strength index (RSI) is biased bullish above.
Trend: Bullish above 0.8704