EURGBP 1D CHART: SHORT, OVERBOUGHT

30 Dis 2015Technical reasoning:

• RSI & %R overbought
  
• Close to Bollinger resistance point
  
• MACD signal line about to cross downwards
  
• Close to highs set in May and October (stop set just above these)
  

Fundamental reasoning:

• The pound edged higher against the U.S. dollar and the euro on Dec 23rd , even after data showed that the U.K. economy grew less than initially expected in the third quarter. This indicates GBP strength, which the market expects to continue.