EUR/GBP confirmed also yesterday further 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 a surprise!!!
The indicators of the daily chart are well negative and also those of the s/t ones are below the line supporting lower levels. Only an hourly closing below 0,8548 will however support the extension of the decline. Further weakness will be postponed in case of an hourly closing above the 0,8610 resistance supporting a rally toward the 200 hours line at 0,8655!!
We remain on the sideline following the inside day but overall expect still lower levels.
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