EUR/GBP looking to chart a higher trough
Above is the daily chart of EURGBP. Last Thursday the pair charted a swing low (blue upwards arrow). We are assessing if that swing low is a higher trough for the currency pair. If we get a candle close above the green dashed horizontal this will be a potential confirmation of the higher trough. The RSI(9) is above 50 and is indicative of an underlying bullish momentum. The longer it stays above 50 the higher the probability that we will see higher prices ahead for the EURGBP. We reiterate that because of Brexit this pair does carry heightened risk with regards to headlines and caution is advised.
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