EUR/GBP keeps knocking on the basement door- will it go in?

If you look at a daily chart of the EUR/GBP over the past month you will see the Euro hit a 2024 low at 0.8260 on November 11. Since then a rebound to around 0.8375 has given way to several attempts to test that low. Well, as you can see it has stopped just short on 4 or five occasions and rebounded from just below 0.8270. However, each rebound seems to have garnered less and less traction and it is still under a degree of pressure. The EUR/GBP closed last night at 0.8277. The range seen so far today has been covered by 0.8272 to 0.8283. So, it is pretty tight and naturally reticent ahead of the ECB policy decision on Thursday. The ECB will cut rates this week, but the BOE is not so much guaranteed to follow suit on December 19. The eventual outcome of both those policy decisions will have implications for the EUR/GBP price action heading into the New Year. There will be more to add on this in the days ahead. The EUR/GBP is trading at 0.8273