EUR/GBP technical analysis: Struggles to hold the rally amid overbought RSI

• The overbought RSI, near-term resistance question buyers.
• Near-term support-line in the spotlight.

Having flashed the fresh five-month on Monday, the EUR/GBP pair struggles to extend the northward trajectory as it takes the rounds near 0.8920 during early Tuesday.

While overbought levels of 14-day relative strength index (RSI) stops the quote from meeting a six-month-old descending trend-line, at 0.8940, an upward sloping support-line from early-May and January – March downturn around 0.8875/70 gains market attention.

Should prices slip beneath 0.8870, 21-day moving average (21-DMA) can offer an intermediate halt at 0.8820 ahead of dragging it to 200-DMA level of 0.8780.

In a case when buyers refrain from respecting overbought RSI and rules beyond 0.8940, 0.9000 round-figure and January 10 high near 0.9060 can entertain them ahead of challenging by the year 2019 top near 0.9120.

EUR/GBP daily chart

Trend: Pullback expected