From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
15 Aug 2017
EUR/GBP MACD indicates downside pressure
The failure of MACD to test recent highs indicates that EUR/GBP could be facing downside pressure soon.
Over the past two weeks, it has become evident that a bearish divergence between EUR/GBP spot and the MACD has developed, which typically implies weakness ahead. Additionally on a 4-hour chart, we can see that the MACD line pushed below its signal line, a further bearish forewarning.
Over the past two weeks, it has become evident that a bearish divergence between EUR/GBP spot and the MACD has developed, which typically implies weakness ahead. Additionally on a 4-hour chart, we can see that the MACD line pushed below its signal line, a further bearish forewarning.