EURGBP rebounded yesterday after triggering some buy orders near the 0.8545 zone, marked as support by the low of December 1. That said, the pair remains below the upward sloping line drawn from the low of March 7, which implies that yesterday’s recovery may be just a corrective bounce within the broader downtrend. Both the RSI and the MACD reflect the rebound and suggest that it could extend for a while longer, perhaps until the pair tests the aforementioned uptrend line. The RSI rebounded from slightly below its 30 line, while the MACD, although negative, poked its nose above its trigger line. If the bears are ... (full story)