Rounded bottom: The EUR/GBP has been coming off a rounded bottom since finding support at 0.8410 to start April. The 4H RSI has held above 40 and tagged 70 a couple of times, reflecting bullish momentum. However, the moving averages tell the story of a sideways market. At the 4/18 US trading session, price is around the 200-SMA, which could be assessed as neutral in the context of a ranging market because the 200SMA represents “mean” price action. Rising Trendline: The 4H chart also shows a rising trendline that appears to be respected at the moment. Then a rally above the current 4/18 high of 0.8573 would suggest ... (full story)