EURGBP opened with a significant bearish gap on Monday after the European elections on Sunday, sending the pair towards a fresh 22-month low of 0.8416. The pair is holding well below the medium-term trading range of 0.8495-0.8620, switching the outlook to negative. Technically, the RSI is standing in the oversold region, while the MACD is looking extremely bearish as it is strengthening its downside momentum beneath its trigger and zero lines. The 20- and the 50-day simple moving averages (SMAs) are also pointing south. In case of a tumble beneath the multi-month low of 0.8416, this could send the pair until the ... (full story)