EUR/GBP drifting back below technical support at 0.8525 ahead of the US stock market opening

Just as the US stock markets reopen for the final live trading session of the week the FX markets are pretty steady and the dollar has rebounded a little since the last update here. The EUR/USD is around 20 pips lower and the USD/JPY is around 20 higher. At the same time the GBP/USD is not far off European session high, currently trading above 1.3320. That has helped the EUR/GBP to leak gradually lower this afternoon. It is now on its lowest levels of the week, as it edges back towards 0.8500. The better UK sales data coupled with a lack of traction in the EUR/USD much above 1.1350 today are the two drivers for this move. The EUR/GBP chart configuration also suggests the cross rate might have a bit more downside potential now that it has fallen below the 21 day moving average (in place right now at 0.8525). The low seen so far has been set at 0.8515. It is right now at 0.8517