EUR/GBP confirmed a weak closing well below the support of the inside day at 0,8550 favouring already a 0,8500 undershooting. The closing was also below the 0,8528, a key level; if confirmed by further closings in the coming sessions we have to expect further weakness suggesting a decline toward 0,8450 if not even directly lower.
The indicators of the daily chart are still well negative as well as those of the s/t ones supporting lower levels. Bullish divergences in the s/t chart confirm the negative tone. Before extending the decline we expect however a retest of the 0,8530 area even 0,8570 move that we suggest selling.
We remain on the sideline while waiting for the MPC meeting later today.
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FUTURE TREND RESEARCH