EUR/GBP continues correcting back after bottoming at the 0.8398 June 14 lows.
EUR/GBP has risen and filled the price gap that was open between 0.8472 and 0.8490. There is a chance it may have completed its upside correction now and the downtrend could resume. A break below the June 28 low would help confirm a resumption lower. It has now filled a price gap on the charts increasing the odds the correction may be near to completion.
8447 would help confirm such a resumption. The initial target for a move lower would be the 0.8399 June 14 low. EUR/GBP 4-hour Chart The Relative Strength Index on the 4-hour chart has exited overbought, further suggesting the correction may have run its course and be turning lower. When RSI exits overbought in a countertrend move such as that on EUR/GBP, it is often a reliable indicator the main trend is resuming. Alternatively, a break above the 0.
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