EUR/GBP confirmed on Friday a further session of consolidation interior the inside day with 0,8655 – 0,8550 still the levels to follow in the coming hours. A break of the support will cause a drop toward 0,8400 move that the market is for sure not expecting and this could well be the surprise!!!
The indicators of the daily chart are still well negative as well as those of the weekly one where we had a weak closing, well below the low of the previous week. The indicators of the s/t charts are this morning also below the line supporting further weakness. In the hourly chart we have already a negative reversal suggesting a potential target at 0,8467.an hourly closing below 0,8575 will support the decline.
Only an hourly closing above 0,8660 will postpone further weakness!!
We are still waiting for a decent selling opportunity possibly a little higher and close to the 200 hours line, today at 0,8672!!
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