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EUR/GBP falls to set technically negative close

The slide seen in the EUR/USD yesterday delivered a corresponding move lower in the EUR/GBP. The pound managed to regain the upper hand versus the Euro and that saw the EUR/GBP fall back underneath its 200 day moving average (now at 0.8653). The fall later extended to a low at 0.8617 and the pair closed well below that 200 day moving average too, ending the US session at 0.8623. It has not really bounced much yet today either. We do have a whole batch of UK data due out at 9.30am GMT this morning, but mostly that is not tier 1, so it should not detract from the current directional shift. The range seen so far today has been covered by 0.8617 to 0.8627. The EUR/GBP is currently trading at 0.8622

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