EUR/GBP rallied amid hawkish comments from European presidents, closing at 0.84919 on the D1 chart. The current trend sees the price pushing lower after hitting the overhead resistance level. The SAR indicator can see that a downtrend has formed. At present, a line of the RVI indicator has broken through the 0 axis, and it will usher in a downward trend after waiting for the signal line to break through.
The -DI of the ADX indicator on the H1 chart has broken through the +DI and the ADX can see a very gradual formation of short volume. The SAR indicator is currently also officially forming the H1 chart above the price, indicating that a wave of downtrend is imminent.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
