EUR/GBP Price Analysis: Downtrend resuming
Source Fxstreet
- The correction from the June 14 lows appears to have finished.
- EUR/GBP continues descending as the intermediate downtrend resumes.
- The pair now targets 0.8399.
EUR/GBP is resuming its medium-term downtrend after the correction higher from the June 14 lows appears to have peaked and rolled over.
Given “the trend is your friend” more weakness is foreseen.
EUR/GBP Daily Chart
A break below 0.8431 (July 8 low) would provide added bearish confirmation of an extension of the downtrend lower to the next target at 0.8399, the June 14 low.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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