EUR/GBP is moving towards 0.8980. If the momentum is strong, there is possibility for this pair to reach the 0.8937 level. This movement has been already confirmed by the price moving below the 30-period Moving Average and is already making a higher low and a lower low too. Please pay attention to the divergence between the price with the Stochastic Oscillator. This condition indicates there will be an upward retracement soon. As long as EUR/GBP does not moving and closes above the 0.9062 level, the price will be moving following the previous bias.
The overall bias of EUR/GBP is Bearish.
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com