EUR/GBP continues to press lower as 0.8400 comes closer in the crosshairs

The downside momentum that has played out all this week so far in the EUR/GBP has extended a bit more today. The Euro has now dropped below 0.8420. The EUR/GBP closed last night at 0.8434. The low seen a short while ago was set at 0.8417. That means it is falling back ever closer to the prior low at 0.8383 (2024 low too). That was set before the post BOE rate cut move led the Euro to a high at 0.8625. Well, as you can see, it is in danger of completely unravelling that rebound now. Of course, it is not certain to do that, but the relative strength of the Pound versus the dollar, above the 1.32 handle is adding more and more downside pressure onto the cross. The EUR/GBP is currently trading at 0.8418