Technical Analysis – EURGBP turns increasingly bearish below Ichimoku cloud
Posted on November 4, 2015 at 7:45 am GMTEURGBP continues to decline and the bearish bias is strengthening after the fall below the daily Ichimoku cloud. Technical indicators are giving bearish signals – the tenkan-sen crossed below the kijun-sen line and the market is below the 200-day moving average. Also, the RSI is trending downwards and is in bearish territory below 50. EURGBP has retraced more than 61.8% of the upleg from 0.6935 to 0.7492 and there is scope to reach the 76.4% Fibonacci. These two levels correspond [..]