EURGBP switched to recovery mode after almost reaching August’s one-year low of 0.8491 and the bottom of the 2023 range area. While the area looks to be an ideal place for an upside reversal, the technical picture cannot guarantee a sustainable rebound. According to the technical indicators, there is some persisting skepticism in the market, as the RSI is still some distance below its 50 neutral mark and the stochastic oscillator has yet to post a positive cross. Also, the MACD keeps hovering around its red signal line and remains comfortably below zero. On the upside, the 20-day simple moving average (SMA) and the ... (full story)