FxWirePro: EUR/GBP’s slumps taking pause; major downtrend seems intact

Things seem like taking track back onto its usual business, the euro freezes its long lasting loses against sterlings and held sturdy in early Asian trades today as Greek banks lined up to resume operations with some restricted conditions on withdrawal limits.

Technical Glimpse and Trade Tips:

EOD technical charts have shown a slight recovery from Friday's slumps at 0.6932 to 0.6362 levels. Intraday sentiments are bullish bias and leading indicators fortify these upswings with positive convergence.

Slight divergence on RSI is seen on daily charts as it is trending near 36.6111 levels with a supportive signal from stochastic curve as %K line crossover below 20 levels which is oversold territory. These signals can be attributed as positive movers for price recovery; however closing figures should be crucial for long-term decision making.

On a swing trading perspective, it is smart to buy at every dips, we advocate buying binary delta calls for targets of 20-25 pips. Intraday charts signals a sharp oversold situation as the %K line crossover occurred below 20 levels and RSI curve is also moving in convergence with spiking prices.