Technical Analysis – EURGBP climbs to 14-month high; still bullish
Posted on February 24, 2016 at 3:01 pm GMTEURGBP touched 14-month highs of 0.7908 today on increased upside momentum. The pair has been on an uptrend since November 2015 and has risen sharply above the 200-day moving average, strengthening the bullish outlook. Today’s rally was capped by the upper Bollinger band and this may restrain further gains in the near term. Other indicators also suggest limited scope for more gains. RSI is still rising and fast approaching overbought levels but the stochastics have already started moving into overbought [..]