EUR/GBP - BULLISH RSI/STOCHASTIC DIVERGENCE | OVERSOLD REVERSAL

12 mar 2021

• EUR/GBP broke a major support level during the start of 2021
  
• As a result, a massive sell of spewed over the course of Q1 2021
  
• Stochastic and RSI is showing heavy divergence on the daily and given the oversold conditions of the market a reversal may be pending
  
• A long position has been executed with 2 targets:
  
• Target 1 - initial major support level
  
• Target 2 - 61.8% fibonacci resistance