(0,8558) EUR/GBP is confirming a nice correction and could still extend the move down it started after the 0,8700 overshooting. At the moment the cross is however just consolidating interior Friday’s range forming a new inside day with 0,8730 – 0,8545 the levels to follow in the coming hours. A daily closing below 0,8545 will support a firm 0,8500 undershooting!! The indicators of the daily chart are still positive but those of the s/t ones plunged below the line. We have already oversold condition in the hourly chart. The drop confirmed however a break below an important support line, now resistance at 0,8580. While below this line and below the 200 hours line at 0,8567 we expect further weakness. We stay short!!
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Future Trend Research